|
contents | business | |||||||||
| KBR announces pricing of IPO KBR, the engineering, construction and services subsidiary of Halliburton, announced the pricing of its initial public offering of 27,840,000 shares of its common stock at $17.00 per share. KBR expects to receive approximately $441 million of proceeds from the offering, net of underwriting fees and estimated expenses. KBR intends to use the proceeds to repay indebtedness owed to subsidiaries of Halliburton. The offering is expected to close on November 20, 2006. After the IPO, Halliburton will remain the majority stockholder of KBR, with approximately 83 percent of KBR's outstanding common stock (or 81 percent of KBR's outstanding stock if the underwriters exercise their over-allotment option in full). write your comments about the article :: © 2006 Construction News :: home page |