Business Services Industry
Aquila sets offering prices on stock, convertible securities.
Knight Ridder/Tribune Business News, August, 2004
By Steve Everly, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Aug. 20--Aquila Inc., looking to pay down debt and improve its balance sheet, has set the offering prices on 40 million shares of stock and 12 million shares of convertible securities.
The common stock will be offered at $2.55 a share, and the income equity securities will earn a coupon rate of 6.75 percent. The income securities will be converted into common stock no later than Sept. 15, 2007. The offerings are expected to be issued Tuesday and raise around $400 million.
"We've cleared the last hurdle on our utility management plan," said Al Butkus, a spokesman for Aquila.
The offerings will dilute the value of current shares, and Aquila's stock...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
