The AES Corporation (AES) Dips Lower on Stock Offering Pricing
The electric utilities company said it plans to offer 40 million shares of common stock at $13.45 a share. It also intends to repurchase 20 million shares from Terrific Investment Corporation, a subsidiary of China Investment Corporation, at $12.91 a share.
Barclays, J.P. Morgan and Morgan Stanley are joint book-running managers of the offering, while Bank of America, SunTrust Robinson Humphrey and UBS Investment Bank are co-managers.AES data by YCharts
--Written by Keris Alison Lahiff.