Southwest Gas Subsidiary Centuri Holdings Plans IPO Of 12.4M Shares Of Common Stock; Currently Expected To Be Priced At $18-$21 Per Share Range
Portfolio Pulse from Benzinga Newsdesk
Southwest Gas subsidiary, Centuri Holdings, is planning an IPO of 12.4 million shares, priced between $18-$21 per share. Post-IPO, Southwest Gas will retain about 82.7% ownership, or 81.0% if underwriters fully exercise their option to buy additional shares.
April 08, 2024 | 8:46 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Centuri Holdings plans an IPO of 12.4 million shares, expected to be priced between $18-$21. This marks Centuri's entry into the public market.
The IPO represents a significant milestone for Centuri Holdings, potentially increasing its market visibility and access to capital. The pricing range indicates a positive outlook on the company's valuation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Southwest Gas will retain approximately 82.7% ownership of Centuri Holdings post-IPO, or 81.0% if underwriters exercise their option fully.
Southwest Gas's significant retained ownership post-IPO demonstrates its ongoing commitment and control over Centuri, potentially reassuring investors about the stability and strategic direction of both companies.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80