logo
Share SHARE
FONT-SIZE Plus   Neg

Sempra Energy's IEnova Prices IPO At Ps 34.00 Per Share - Quick Facts

Sempra Energy (SRE) announced that its subsidiary Infraestructura Energetica Nova, S.A.B. de C.V. or IEnova has priced its private offering of about 91.04 million shares of Class II, Single Series, common stock at an initial offering price of 34.00 Mexican pesosper share, or about US$2.75.

Simultaneously, IEnova also priced its initial public offering registered in Mexico of about 98.62 million shares of common stock at the same initial offering price. Settlement of the offerings is expected to occur on March 27, 2013.

The initial purchasers in the private offering and the underwriters in the Mexican public offering have been granted a 30-day option to purchase up to an additional 28.45 million shares of common stock at the initial offering price, less the underwriting discount, to cover overallotments, if any.

The aggregate shares of common stock to be sold in the offerings represent about 16.85 percent of IEnova's outstanding ownership interest, and approximately 18.9 percent of IEnova's outstanding ownership interest if the 30-day overallotment option is exercised in full.

The company estimates the net proceeds of the offerings to be about Ps.6.1 billion or US$496 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by IEnova, and prior to any exercise of the 30-day overallotment option.

IEnova expects to use the net proceeds of the offerings primarily for general corporate purposes, including the funding of its current investments and ongoing expansion plans.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT