Dominion Resources sells $750 million of common stock via Citigroup
Written By: Stratton Report
April 4, 2016
On April 4, Dominion Resources, Inc. announced the sale of 10,200,000 shares of its common stock for approximately $750 million, through a registered underwritten public offering to Citigroup, as the sole underwriter. The offering is expected to close on April 8, 2016.
According to Dominion, Citigroup will offer for sale the shares of common stock in transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise.
Dominion has a portfolio of approximately 24,300 megawatts of generation, 12,200 miles of natural gas transmission, gathering and storage pipeline, and 6,500 miles of electric transmission lines. Dominion operates natural gas storage systems with 933 billion cubic feet of storage capacity and serves utility and retail energy customers in 14 states.