Southwest Gas Unit Centuri Gears Up For IPO: Details
Portfolio Pulse from Lekha Gupta
Southwest Gas Holdings, Inc.'s subsidiary, Centuri Holdings, Inc., is preparing for an IPO, offering 12.40 million shares with an option for underwriters to buy an additional 1.86 million shares. The price range is set between $18.00 and $21.00 per share, and it will be listed on the NYSE under the ticker 'CTRI'. Carl Icahn's investment entities have agreed to purchase 2.59 million shares concurrently. The IPO is part of a public filing with the SEC by Centuri. Exposure to SWX can also be gained through LeaderShares Activist Leaders ETF (ACTV) and Invesco Building & Construction ETF (PKB). SWX shares recently dropped by 0.74%.
April 09, 2024 | 1:54 pm
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NEUTRAL IMPACT
LeaderShares Activist Leaders ETF, which includes SWX in its portfolio, may see indirect effects from the Centuri Holdings IPO.
As an ETF that holds SWX stock, ACTV may experience indirect impact from the IPO, though the effect is likely to be diluted across the ETF's diverse portfolio.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Invesco Building & Construction ETF, which includes SWX in its holdings, could be indirectly impacted by the Centuri Holdings IPO.
PKB, as an ETF with SWX in its portfolio, might see an indirect impact from the Centuri IPO, though the overall effect is expected to be minor due to the diversified nature of the ETF.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Southwest Gas Holdings is launching an IPO for its subsidiary, Centuri Holdings, with a significant investment from Carl Icahn's entities.
The IPO of Centuri Holdings could bring positive attention and financial benefits to Southwest Gas Holdings, potentially boosting investor confidence and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90