Published on 11/10/2009 in the Prospect News PIPE Daily.
New Issue: AES details planned $1.58 billion private placement of common stock
By Devika Patel
Knoxville, Tenn., Nov. 10 - AES Corp. gave further details about a $1.58 billion private placement of stock in an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on Friday.
The company will sell 125,468,788 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 position in the power sector.
AES, with headquarters in Arlington, Va., owns and operates power generation and distribution businesses.
Issuer: | AES Corp.
|
Issue: | Common stock
|
Amount: | $1,580,906,729
|
Shares: | 125,468,788
|
Price: | $12.60
|
Warrants: | No
|
Investor: | China Investment Corp.
|
Pricing date: | Nov. 6
|
Stock symbol: | NYSE: AES
|
Stock price: | $14.03 at close Nov. 6
|
Market capitalization: | $9.21 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.