Southwest Gas Unit Seeks Up to $315 Million in IPO, Placement [BNN Bloomberg (Canada)]
Southwest Gas Holdings, Inc. (DE) (SWX)
Last southwest gas holdings, inc. (de) earnings: 2/26 04:30 pm
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investors.swgasholdings.com
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Source: BNN Bloomberg
Centuri plans to offer 12.4 million shares for $18 to $21 each, according to a filing Monday with the US Securities and Exchange Commission. Separately, investment funds backed by billionaire activist Carl Icahn agreed to purchase about 2.6 million shares in a concurrent private placement, the filing shows. At the top of the range, the Phoenix-based business would have a market value of $1.8 billion based on the outstanding shares in its filing. The carve-out of Southwest Gas' infrastructure services business comes about two years after announcing the split. The company said in 2022 that it would spin off the unit to better focus on its regulated natural gas business, after reaching a settlement with Icahn, who had objected to an acquisition it had made. Icahn Enterprises LP owns about 15% of Southwest Gas, data compiled by Bloomberg show. Centuri, which traces its roots to 1909, provides services to natural gas distribution and electricity utilities, according to the filings.
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SWX
News
- Institutional investors control 70% of Southwest Gas Holdings, Inc. (NYSE:SWX) and were rewarded last week after stock increased 3.8% [Yahoo! Finance]Yahoo! Finance
- Southwest Gas Holdings, Inc. to Report First Quarter 2024 Results on May 8, 2024PR Newswire
- Southwest Gas Holdings Announces Release of 2023 Sustainability Report [Yahoo! Finance]Yahoo! Finance
- Southwest Gas Holdings Announces Release of 2023 Sustainability ReportPR Newswire
- Southwest Gas Announces Closing of Centuri Initial Public OfferingPR Newswire
SWX
Earnings
- 2/28/24 - Beat
SWX
Sec Filings
- 4/17/24 - Form 8-K
- 4/1/24 - Form 144
- 3/22/24 - Form 8-K
- SWX's page on the SEC website