Infrastructure
American Water Works IPO Closer To Market (AWK)
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American Water Works Company submitted an amended IPO filing after yesterday’s market closed, and this is one we at a673b.bigscoots-temp.com have been looking forward to. The filing still shows a planned IPO for a sale of up to $1.5 Billion in securities. While most filing numbers are merely for filing purposes, this is going to be one of the larger IPO’s of 2008.
The underwriting group is still listed as Goldman Sachs, Citigroup, and Merrill Lynch. We won’t be shocked if that number of underwriters grows as far as co-managers are concerned. American Water Works Company still has the stock ticker “AWK” on the NYSE as its pre-designated ticker.
American Water Works generated $2.1 billion in total operating revenue in 2006, and pro forma for the nine months ended September 30, 2007 is $1.66 billion in operating revenues. This is one IPO we have been waiting for as RWE AG in Germany is essentially selling this one back to the U.S. public after acquiring it.
Jon C. Ogg
January 30, 2008
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