By Devika Patel
Knoxville, Tenn., Nov. 6 - AES Corp. said it plans a $1.58 billion private placement of stock.
The company will sell 125.5 million common shares at $12.60 per share to China Investment Corp., for a 15% stake.
Proceeds will be used to fund growth opportunities and extend the company's global leadership in the power sector.
AES, with headquarters in Arlington, Va., owns and operates a diverse portfolio of power generation and distribution businesses.
| Issuer: | AES Corp.
|
| Issue: | Common stock
|
| Amount: | $1,581,300,000
|
| Shares: | 125.5 million
|
| Price: | $12.60
|
| Warrants: | No
|
| Investor: | China Investment Corp.
|
| Pricing date: | Nov. 6
|
| Stock symbol: | NYSE: AES
|
| Stock price: | $13.86 at close Nov. 5
|
| Market capitalization: | $9.5 billion
|
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