• Company to list on New York Stock Exchange under symbol "AWK"
VOORHEES, NJ, April 22, 2008 -- American Water announced its initial public offering of 58 million shares of common stock has been priced at $21.50 per share. All of the shares are being offered by the selling stockholder, RWE Aqua Holdings GmbH, and net proceeds from the offering will go to RWE. American Water's shares will begin trading on April 23, 2008, on the New York Stock Exchange under the ticker symbol "AWK."
The selling stockholder has granted the underwriters a 30-day option to purchase up to 8.7 million additional shares of common stock. After the initial public offering, and assuming no exercise of the underwriters' option, the selling stockholder is expected to own approximately 64 percent of American Water's shares.
Goldman, Sachs & Co., Citi, and Merrill Lynch & Co. are acting as joint book-running managers in connection with the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission.
Founded in 1886, American Water is the largest investor-owned U.S. water and wastewater utility company.
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