Awaiting Market Debut
Southwest Gas Holdings, Inc.‘s SWX subsidiary, Centuri Holdings, Inc., has set the stage for its upcoming initial public offering (IPO) of 12.40 million shares.
Robust Investor Interest
Centuri has allowed underwriters the option of acquiring an additional 1.86 million shares, anticipating an IPO price range of $18.00 to $21.00 per share. The company has secured plans to list on the New York Stock Exchange under the ticker symbol “CTRI.”
Big Names Backing
In a strategic move, investment entities tied to the prominent Carl Icahn, including Icahn Partners LP and Icahn Partners Master Fund LP, are poised to purchase 2.59 million shares of Centuri common stock in a concurrent private placement.
Anticipation Amid Disclosure
The recent announcement by Southwest Gas concerning Centuri’s filing of a registration statement on Form S-1 with the SEC has sparked interest and buzz within investor circles.
Investing Opportunities
For those eyeing exposure to SWX stock, investment avenues include LeaderShares Activist Leaders ETF ACTV and Invesco Building & Construction ETF PKB.
Market Reaction
Price Action: SWX shares experienced a marginal decline of 0.74% to reach $75.19 in the latest trading session.
Image: Shutterstock/ Andrii Yalanskyi
