Centerpoint Completes $150 Million Stock Sale Disclosed In Feb
30 Giugno 2009 - 7:58PM
Dow Jones News
DOW JONES NEWSWIRES
Centerpoint Energy Inc. (CNP) completed its common stock
offering, raising $150 million four months after announcing the
program.
The electricity and natural-gas distributor sold 14.3 million
shares through an equity distribution agreement with Citigroup Inc.
(C). The sales occurred from May 8 through Friday, the same time a
host of companies sold tens of billions of dollars in stock as
investors flocked to secondary offerings.
The company hasn't said what it would do with the proceeds.
CenterPoint is the holding company for all the regulated assets
previously held by Reliant Energy Inc. (REI), from which it split
in 2002.
Centerpoint shares were recently down 2.1% at $11 amid a broad
market downgrade. The stock is roughly at the same level it was
when the stock offering was announced; the company's market
capitalization is about $3.8 billion.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com