Tiger Brokers

BUZZ-IDACORP down after $450 mln equity offering launch

Reuters
May 09, 2025
BUZZ-IDACORP down after $450 mln equity offering launch

** Shares of electric power firm IDACORP IDA.N down 1.3% on thin post-market trading volume to $112.24 after launching equity offering

** Boise, Idaho-based utility commences $450 mln stock offering

** It enters into 18-month forward sales agreements with jt lead bookrunners Morgan Stanley, JP Morgan and Wells Fargo

** Upon settlement of such agreements, co to use net proceeds for general purposes, which may include capex

** Co has 54 mln shares outstanding for ~$6.1 bln market cap

** IDA shares on Thurs finished down 2.3% at $113.68, trimming YTD gain to 4%. Stock hit intraday record high of $120.84 on Apr 3

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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