BUZZ-MDU Resources falls after launching $200 million share sale

Reuters
2025/12/04
BUZZ-MDU Resources falls after launching $200 million share sale

** Electricity and natural gas utility provider MDU Resources' MDU.N shares fall 2.4% to $19.75 in extended trading

** MDU unveils public offering of $200 million of shares with forward sale component

** It plans to enter into forward sale agreements with bookrunners Wells Fargo Securities, BofA Securities and J.P. Morgan

** Upon settlement of such agreements, expected to occur no later than 24 months following the completion of the offering, MDU plans to use net proceeds for general purposes, including debt repayment and acquisitions, among other purposes

** With 204 million outstanding shares, MDU has ~$4.1 billion market cap, per LSEG data

** Three of five brokerages rate the stock "buy" or higher and two "hold"; median PT $21

** As of last close, MDU stock up 12% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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