Latest news with #equitycapital
Yahoo
5 days ago
- Business
- Yahoo
Unitil Announces Pricing of Common Stock Offering
HAMPTON, N.H., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( (the 'Company') today announced that it has priced its previously announced public offering of 1,393,355 shares of its common stock at a price of $46.65 per share. The offering is expected to close on August 18, 2025, subject to customary closing conditions. The Company has granted the underwriters of the offering an option to purchase up to an additional 209,003 shares of common stock at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds from the offering to (i) make equity capital contributions to its regulated utility subsidiaries, (ii) to repay indebtedness outstanding under its Second Amendment to Third Amended and Restated Credit Agreement dated January 29, 2025 among the Company, Bank of America, N.A. (as administrative agent), and the lenders named therein and (iii) for general corporate purposes. Wells Fargo Securities, LLC and Scotia Capital (USA) Inc. are acting as active bookrunners for the offering. Janney Montgomery Scott LLC is acting as bookrunner for the offering. The offering of common stock is being made by means of a prospectus supplement under the Company's effective registration statement on Form S-3ASR, as filed with the Securities and Exchange Commission ('SEC'). This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering may be made only by means of a prospectus supplement relating to such offering and the accompanying prospectus. The preliminary prospectus supplement and the accompanying prospectus related to the offering will be available on the SEC's website at To obtain a copy of the prospectus supplement and related base prospectus for this offering, please contact Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at (800)-645-3751 (option #5) or email a request to WFScustomerservice@ About Unitil Corporation Unitil Corporation provides energy for life by safely and reliably delivering electricity and natural gas in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil's operating utilities serve approximately 109,400 electric customers and 97,600 natural gas customers. For more information about our people, technologies, and community involvement please visit Forward-Looking Statements This press release contains forward-looking statements. All statements, other than statements of historical fact, included in this press release are forward-looking statements. Forward-looking statements include declarations regarding Unitil's beliefs and current expectations. These forward-looking statements are subject to the inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. Some, but not all, of the risks and uncertainties include the following: the ability of the parties to consummate the offering in a timely manner or at all; Unitil's regulatory environment (including regulations relating to climate change, greenhouse gas emissions and other environmental matters); fluctuations in the supply of, the demand for, and the prices of, energy commodities and transmission and transportation capacity and Unitil's ability to recover energy commodity costs in its rates; customers' preferred energy sources; severe storms and Unitil's ability to recover storm costs in its rates; general economic conditions; variations in weather; long-term global climate change; unforeseen or changing circumstances, which could adversely affect the reduction of company-wide direct greenhouse gas emissions; Unitil's ability to retain its existing customers and attract new customers; increased competition; and other risks detailed in Unitil's filings with the SEC. These forward-looking statements speak only as of the date they are made. Unitil undertakes no obligation, and does not intend, to update these forward-looking statements except as required by law. For more information please contact: Christopher Goulding – Investor RelationsPhone: 603-773-6466Email: gouldingc@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
14-07-2025
- Business
- Bloomberg
UK to Pursue Plans to Cut Corporate Fundraising Paperwork
The UK's Financial Conduct Authority is pushing ahead with plans to make it easier for companies to tap markets for more funds, acknowledging that the reforms come with risks for investors and companies. The FCA said on Tuesday that listed companies can raise a further 75% of their equity capital without issuing a prospectus, lifting the threshold from 20%. The FCA estimated it will reduce costs for secondary sales by about £40 million ($53.7 million) per year.
Yahoo
23-06-2025
- Business
- Yahoo
Sequa Petroleum N.V. Update
LONDON, June 23, 2025--(BUSINESS WIRE)--Regulatory News: (BOURSE:MLSEQ) Further to its announcement of 19 May 2025, Sequa Petroleum N.V. (the "Company") has continued to monitor the situation and has not received any indication that progress towards completion of the Transaction will restart. Despite extensive efforts the Company has not been able to raise new equity capital, and without completion of the Transaction the Company will not be able to maintain a going concern nor pursue its business development strategy. Accordingly, the Company has started to reduce its remaining financial liabilities as required to pursue closure of the Company in compliance with statutory provisions for dissolution of the Company and its subsidiaries, and in a solvent manner. The Company is preparing for an extraordinary general meeting of shareholders to be held in the near term to resolve on the dissolution process. View source version on Contacts info@ Sign in to access your portfolio
Khaleej Times
29-05-2025
- Business
- Khaleej Times
IndusInd Bank gets promoter backing amid financial recovery
In a move to restore confidence, IndusInd International Holdings (IIHL), the promoter of IndusInd Bank, has pledged to strengthen the bank's equity capital following scrutiny over accounting discrepancies in its derivatives trading. The assurance comes as the bank, which operates a representative office in Dubai catering to non-resident Indian (NRI) services, navigates a challenging period marked by a significant financial misstatement. Ashok P. Hinduja, chairman of IIHL, expressed unwavering support for the bank's leadership, stating, 'I have unequivocal trust in the chairman and board of directors for their swift and appropriate actions to address discrepancies and related concerns.' This commitment underscores IIHL's long-standing role as a steadfast supporter of IndusInd Bank over the past three decades. The IIHL, with significant shareholding from UAE-based residents, is backed by the Hinduja Group, a 110-year-old multinational conglomerate, with multiple business interest in the UAE and the Middle East. The group has topped the Sunday Times UK Rich List at £35.3 billion for the fourth successive year in 2025. In the UAE, the group has diversified business interests ranging from petrochemicals, and finance to bus/truck manufacturing. In Ras Al Khaimah, the group's Ashok Leyland operates a commercial vehicle assembling facility. The lender reported a profit of $309.5 million for the fiscal year 2025, a sharp 70 per cent decline from the previous year's $1.07 billion, primarily due to a $235 million hit from accounting irregularities in derivative transactions. On March 10, 2025, the bank disclosed the misstatement, which impacted 2.35 per cent of its net worth, equivalent to approximately Rs15.77 billion. The announcement triggered a 27 per cent plunge in the bank's stock price on March 11, erasing nearly Rs200 billion in market capitalization and leading to its inclusion in the Futures & Options (F&O) ban list. Despite the setback, the Reserve Bank of India (RBI) intervened to reassure stakeholders, affirming that IndusInd Bank remains 'well-capitalised' with a 'satisfactory' financial position. The RBI directed the bank's board to implement corrective measures, prompting a partial recovery in share prices. Data from the bank's latest financial disclosures indicate a capital adequacy ratio well above regulatory requirements, providing a buffer for operational stability. IIHL, which has 600 globally dispersed high-net-worth individual (HNWI) among its stakeholders, is poised for ambitious growth. The promoter aims to expand its Banking and Financial Services (BFSI) business to a $50 billion valuation by 2030 through strategic acquisitions in India, Europe, and the Middle East. This follows IIHL's recent $1.17 billion acquisition of Reliance Capital in India, signaling its intent to bolster its financial services portfolio. Hinduja emphasised IIHL's readiness to inject additional equity if needed for business expansion, stating, 'Though the bank's capital adequacy is healthy, we remain committed to supporting IndusInd Bank's growth.' He highlighted the board's remedial actions, which are expected to enhance transparency and governance, rebuilding stakeholder trust. 'The coordinated efforts of management, under the board's guidance, have ensured robust business health and sustained customer confidence,' Hinduja added. The RBI's orderly approach to addressing the issue has been praised, with Hinduja noting its history of providing effective guidance to the banking sector. As IndusInd Bank implements corrective measures, the promoter's backing and the regulator's oversight signal a path toward recovery. Hinduja described the situation as 'a new dawn with a sanitised slate,' positioning the bank to reclaim its longstanding reputation for reliability and trust in the financial sector.
Yahoo
27-05-2025
- Business
- Yahoo
Aditya Birla Fashion and Retail Ltd (BOM:535755) Q4 2025 Earnings Call Highlights: Strong ...
Equity Capital Raised: USD 490 million through QIP and preferential issuance. Cash Availability: INR 2,350 crores at consolidated level for ABFRL. ABLBL Revenue (Q4 '25): INR 1,942 crores, normalized growth of 4%. ABLBL EBITDA (Q4 '25): INR 330 crores, 18% Y-o-Y growth, margin expanded by 200 basis points to 17%. ABLBL Full Year Revenue ('25): INR 7,830 crores, normalized EBITDA margin of 16.2%. ABLBL Net Debt: INR 781 crores. Lifestyle Brands Revenue (Q4 '25): INR 1,639 crores, 5% Y-o-Y growth, EBITDA margin expanded by 50 basis points to 20%. ABFRL Revenue (Q4 '25): INR 1,719 crores, 9% Y-o-Y growth. ABFRL Comparable EBITDA (Q4 '25): INR 199 crores, up 103% Y-o-Y, reported EBITDA at INR 295 crores, margin at 17.2%. Pantaloons Revenue (Q4 '25): INR 885 crores, EBITDA margin expanded by 480 basis points to 15.1%. Ethnic Wear Revenue (Q4 '25): INR 564 crores, 19% Y-o-Y growth, EBITDA margin expanded by 700 basis points to 10.1%. Designer-led Ethnic Portfolio Growth (Q4 '25): 46% Y-o-Y, EBITDA margin exceeding 20%. Digital-first Brand Portfolio Growth (Q4 '25): 27% Y-o-Y growth. Warning! GuruFocus has detected 5 Warning Signs with BOM:535755. Release Date: May 26, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Aditya Birla Fashion and Retail Ltd (BOM:535755) successfully completed the demerger, creating two focused fashion powerhouses, which are now set on independent high-growth trajectories. The company raised USD 490 million of equity capital, strengthening its balance sheet with INR2,350 crores cash available for growth. Both entities delivered robust profitability, with ABLBL achieving a 200 basis points margin expansion and demerged ABFRL more than doubling its EBITDA. Pantaloons segment achieved significant EBITDA margin expansion of 480 basis points, reaching 15.1%, marking its sixth consecutive quarter of margin improvement. The Ethnic wear segment reported a robust 19% Y-o-Y growth in Q4, with profitability improving sharply and EBITDA margin expanding by 700 basis points to 10.1%. The industry faced strong macro headwinds with sustained impact on consumer discretionary consumption, affecting overall performance. Revenue performance was marginally impacted by the closure of Forever 21's offline operations. TCNS saw a revenue decline during the quarter due to ongoing distribution rationalization. The company is still working on turning around loss-making businesses like TCNS and Tasva, which are currently suppressing overall margins. The Style Up brand, while showing growth potential, may initially dilute margins due to its expansion strategy. Q: What will drive the margin expansion for the demerged ABFRL, and what are the sustainable margins for Pantaloons? A: The largest uptick in margins will come from turning around currently negative EBITDA businesses, such as parts of the ethnic businesses and digital-first brands. For Pantaloons, the margin expansion is driven by gross margin improvements, better product planning, and lower markdowns. The sustainable margin for Pantaloons is expected to improve by at least 300 basis points over the next couple of years. - Ashish Dikshit, Managing Director Q: Is the current cash balance sufficient to fund the planned expansion and investments for the demerged ABFRL? A: Yes, the demerged ABFRL is well-capitalized with over INR 2,000 crore in gross cash, which is sufficient to fund planned expansions and investments over the next three to four years. Additionally, there are plans to raise separate capital for the Tomorrow business. - Ashish Dikshit, Managing Director Q: What is the CapEx expectation for the demerged ABFRL in the next few years? A: The ongoing CapEx is expected to be around INR 400 crores annually. This includes expansion plans for various segments such as Style Up, Pantaloons, Tasva, and TCNS luxury. Galeries Lafayette will require a one-time CapEx of about INR 100 crores this year. - Ashish Dikshit, Managing Director Q: How is the company planning to differentiate Style Up in the competitive value fashion space? A: While specific differentiation strategies were not detailed, the company has identified opportunities in the value fashion space that align with its growth thesis for Style Up. The focus will be on opening new stores with a strong emphasis on capital productivity and market presence. - Ashish Dikshit, Managing Director Q: What are the growth expectations for the Sabyasachi brand, and how does the company plan to expand it? A: Sabyasachi is expected to grow at an early double-digit rate, with long-term growth closer to 20% over four to five years. Expansion will be selective, focusing on organic growth rather than aggressive store additions. The brand is positioned as India's only true luxury brand with potential for global growth. - Ashish Dikshit, Managing Director For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
