logo
Share SHARE
FONT-SIZE Plus   Neg

PPL Corp. Announces 9.9 Mln Common Stock Offering - Quick Facts

PPL Corp. (PPL) said Monday that it plans to make a registered underwritten public offering of 9.9 million shares of its common stock.

The company said that in conjunction with this offering, the underwriters will be granted an option to purchase up to an additional 1.485 million shares of the its common stock to cover over-allotments, if any.

Subject to certain conditions, all shares will be offered in connection with the execution by the company of the forward sale agreements described below. The company expects the offering close on or about April 13, 2012.

The company said that it plans to use any net proceeds that it receives to make capital contributions to its subsidiaries, to repay short-term debt obligations and for other general corporate purposes.

Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers for the offering.

In connection with the offering, the company said that it has entered into a forward sale agreement with each of Morgan Stanley & Co. LLC and Merrill Lynch International.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A Singapore-based music start-up has acquired a 49 percent stake in the iconic music and pop culture-focused magazine Rolling Stone, becoming the first outsider investor in the magazine. Financial terms of the deal, which will enable Rolling Magazine to expand its international reach, were not disclosed. Allegiant Air said it is moving operations from Akron-Canton Airport to Cleveland Hopkins International Airport, thereby doubling the leisure carrier's presence in northeast Ohio. The company will cease operations at Akron-Canton on February 15, 2017. Carnival Corporation & plc (CCL, CCL.L, CUK) reported a profit for the third-quarter that increased 17 percent from the prior year. The company said it is well on track to deliver nearly 25 percent earnings growth in 2016. It raised adjusted earnings per share guidance for 2016.
comments powered by Disqus
Follow RTT