Message #39 From:
NewsBot Date: November 16, 2006 04:43:00 PM
HAL News KBR, Inc. Announces Full Exercise of Underwriters' Over-Allotment Option
HOUSTON--(BUSINESS WIRE)--KBR, the engineering, construction and services subsidiary of
Halliburton (NYSE:HAL), today announced that the underwriters of its
initial public offering have exercised in full their over-allotment
option to purchase an additional 4,176,000 shares of common stock in
connection with KBR’s previously announced
initial public offering. The exercise of this option will bring the
total number of shares of common stock to be sold in the offering to
32,016,000, at a price of $17.00 per share. The shares have been
approved to trade on the New York Stock Exchange under the symbol “KBR.”
KBR expects to receive approximately $508 million of proceeds from the
offering, net of underwriting fees and estimated expenses. KBR intends
to use the proceeds to repay indebtedness owed to subsidiaries of
Halliburton and for general business purposes.
The offering is expected to close on November 21, 2006, subject to
customary closing conditions. After the IPO, Halliburton will remain the
majority stockholder of KBR, with approximately 81 percent of KBR’s
outstanding stock.
The lead underwriters for the offering are Credit Suisse Securities
(USA) LLC, Goldman, Sachs & Co., and UBS Securities LLC.
A copy of the final prospectus relating to the offering may be obtained
from:
KBR
Investor Relations
4100 Clinton Dr.
Houston, Texas 77020
Investors@KBR.com
Copies of the final prospectus may also be obtained from Credit Suisse
Securities (USA) LLC, Prospectus Department, One Madison Avenue, New
York, NY 10010, Tel: 212-325-2580; Goldman, Sachs & Co., Attention:
Prospectus Department, 85 Broad St., New York, NY 10004, Fax:
212-902-9316, prospectus-ny@ny.email.gs.com;
or UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York,
NY 10171, Tel: 212-821-3000.
KBR is a global engineering, construction and services company
supporting the energy, petrochemicals, government services and civil
infrastructure sectors. The company serves its customers with a broad
range of services through two business segments, Energy and Chemicals,
and Government and Infrastructure.
Halliburton, founded in 1919, is one of the world’s
largest providers of products and services to the petroleum and energy
industries. The company serves its customers with a broad range of
products and services through its Energy Services Group and KBR.
This press release does not constitute an offer to sell or the
solicitation of any offer to buy any securities of KBR, nor shall there
be any sale of any such securities in any state or other 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 other jurisdiction.
Statements regarding expected net proceeds, intended uses of
proceeds, timing and other aspects of the offering, as well as any other
statements that are not historical facts in this release, are
forward-looking statements that involve certain risks, uncertainties and
assumptions.These include but are not limited to general market
conditions, market conditions in the financial markets, customary
offering closing conditions and other factors described in the
prospectus relating to this offering.Should one or more of these
risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those indicated.
