American Water (NYSE: AWK) today 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. A copy of the final prospectus may be obtained by contacting
any of the following:
Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad
Street, New York, NY 10004, facsimile +1 212 902 9316, e-mail prospectus-ny@ny.email.gs.com.
Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY
11220, telephone +1 718 765 6732.
Merrill Lynch & Co., Attention: Prospectus Department, 4 World
Financial Center, 5th Floor, New York, NY 10080, telephone +1 212 449
1000.
You may also obtain the final prospectus when it is available on the
Securities and Exchange Commission´s website at http://www.sec.gov.
About American Water
Founded in 1886, American Water is the largest investor-owned U.S. water
and wastewater utility company. With headquarters in Voorhees, N.J., the
company employs nearly 7,000 dedicated professionals who provide
drinking water, wastewater and other related services to approximately
15.6 million people in 32 states and Ontario, Canada.
American Water
Maureen Duffy, 856-309-4546
maureen.duffy@amwater.com
or
Julie
Scharle, 856-309-4690
julie.scharle@amwater.com