This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sempra Energy Announces Exercise Of IEnova Overallotment Options

Stocks in this article: SRE

SAN DIEGO, March 25, 2013 /PRNewswire/ --  Sempra Energy (NYSE:SRE) today announced that the initial purchasers and Mexican underwriters in the previously disclosed global offering of 189,661,305 shares of Class II, Single Series, common stock of its subsidiary Infraestructura Energetica Nova, S.A.B. de C.V. (formerly Sempra Mexico and referred to as IEnova) have exercised their options to purchase an additional 28,449,195 shares of common stock at the initial offering price of Ps.34.00 per share, less underwriting discounts and commissions.  With the exercise of the options, the aggregate shares of common stock to be sold in the global offering represent approximately 18.9 percent of IEnova's outstanding ownership interest.  Settlement of the global offering, including the additional option shares, is expected to occur on March 27, 2013, subject to the completion of customary closing conditions. 

The net proceeds of the global offering, including the additional option shares, are estimated to be approximately Ps.7.1 billion ( US$571 million, based upon an exchange rate of Ps.12.3841 to US$1.00, as of March 21, 2013, as published by Banco de Mexico), after deducting underwriting discounts and commissions and estimated offering expenses payable by IEnova.  IEnova expects to use the net proceeds of the offerings primarily for general corporate purposes, including the funding of its current investments and ongoing expansion plans.

The private offering that is part of the global offering described above is exempt from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act").  The shares in the private offering will be offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the U.S., in accordance with Regulation S under the Securities Act.  The shares have not been registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the shares of IEnova.  This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,430.06 +42.85 0.25%
S&P 500 2,032.66 +3.11 0.15%
NASDAQ 4,707.8160 +26.3190 0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs