Market Overview

AES Prices 20M Share Buyback at $12.912/Share; Secondary Offering of 40M Shares at $13.45/Share

The AES Corporation (NYSE: AES) announced today pricing for the
repurchase of 20 million shares of its common stock (the “Repurchase”)
from Terrific Investment Corporation (the “Selling Stockholder”), a
subsidiary controlled by China Investment Corporation (“CIC”), for
approximately $258 million at $12.912 per share. Additionally, the
Company's previously announced secondary public offering of 40 million
shares of its common stock (the “Offering”), offered to the public by
the Selling Stockholder, priced at $13.45 per share. AES will not
receive any of the proceeds from the Offering. The Selling Stockholder
has granted to the underwriters an option to purchase up to 6 million
additional shares at the public offering price, less the underwriting
discount, to cover over-allotments, if any, for a period of

See full press release

Posted-In: News Guidance Offerings Management Global

 

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