KBR Launches IPO Road Show
KBR, the engineering, construction and services subsidiary of Halliburton, reported Wednesday that that the company has commenced the road show for its initial public offering (IPO).
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).
- Halliburton Envisions Robo-Fracking (Aug 21)
- Hundreds Line Up for Gushing West Texas Oil Jobs (Aug 03)
- Oil, Gas Companies Focus on Recruitment, Retention in the Permian (Jul 24)
Company: KBR more info
- Offshore Australia Contract Goes to KBR (Oct 11)
- KBR, ConocoPhillips to Develop Off-the-Shelf LNG Tech (Sep 18)
- Contract for Louisiana Methanol Plant Goes to KBR (Jul 31)