WFS closes common stock offering

Tue 21 Sep 2010, 16:21 GMT

WFS closes common stock offering

Fuels specialist says it received $219 million in net proceeds from the offering.

World Fuel Services Corporation announced today that it has closed its previously announced public offering of 8,000,000 shares of common stock at a price to the public of $25.00 per share.

Additionally, the underwriters have exercised an option to purchase an additional 1,200,000 shares to cover overallotments.

After deducting the underwriting discount and estimated offering expenses, the company received approximately $219 million in net proceeds from the offering, including the overallotment option.

World Fuel Services says it intends to use the proceeds of the offering for general corporate purposes, which 'may include potential acquisitions'.

BofA Merrill Lynch, Credit Suisse and J.P. Morgan acted as joint book-running managers for the offering. Additionally, senior co-managers for the offering were HSBC, Wells Fargo Securities, and RBS, and co-managers included TD Securities, BB&T Capital Markets and Stephens Inc.

United States


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