KBR Closes IPO

KBR, the engineering, construction and services subsidiary of Halliburton, said that it has closed its initial public offering of 32,016,000 shares of common stock at a price of $17.00 per share. The number of shares of common stock issued at closing included 4,176,000 shares subject to the underwriters' over-allotment option. KBR received approximately $508 million of proceeds from the offering, net of underwriting fees and estimated expenses.

The lead underwriters for the offering were Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., and UBS Securities LLC.

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