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Westar Energy in 8M-share public offering

  • Westar Energy (WR) -1.9% AH after announcing a public offering of 8M shares of its common stock.
  • WR expects to use the net proceeds to repay short-term debt under its commercial paper program, which is used to provide funds to finance its ongoing capital program, and for working capital and general corporate purposes.
Comments (1)
  • dubyadeebee
    , contributor
    Comments (221) | Send Message
     
    Does this really make sense? Money is still near all time lows, so does diluting the shares by 6+% to pay down a tiny fraction (~3%) of overall total debt really help? Would appear FY13 EPS would now be around $2.00 vs consensus $2.12. Will this hit the stock price tomorrow, or not until the shares actually issue?
    24 Sep 2013, 02:19 AM Reply Like
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