The lead underwriters for the offering are Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., and UBS Securities LLC. KBR is offering 27,840,000 shares of its common stock and the underwriters will have an option to purchase a maximum of 4,176,000 additional shares to cover overallotments of shares. The shares are to be traded on the New York Stock Exchange under the symbol "KBR."
KBR intends to use the net proceeds from this offering to repay indebtedness KBR owes to subsidiaries of Halliburton. Any remaining proceeds will be used by KBR for general business purposes.
After the IPO, Halliburton will remain the majority stockholder of KBR, with approximately 83 percent of KBR's outstanding stock (or 81 percent of KBR's outstanding stock if the underwriters exercise their overallotment option in full).
Most Popular Articles
From the Career Center
Jobs that may interest you