Aecom Makes $80.8 Million Stock Offering

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Aecom Technology Corp. on Wednesday priced a public stock offering at $20.20 per share and boosted the size of the offering to 4 million shares.

The Los Angeles provider of technical and management support services said earlier in the week it planned to sell 3.5 million shares, with proceeds to be used for general corporate uses and future acquisitions. Increasing the number of shares to be sold would bring in $80.8 million before fees.

Aecom said it granted underwriters a 30-day option to purchase up to 600,000 additional shares to cover any over-allotments sold to the public. Morgan Stanley is the book-running manager for the offering, with Merrill Lynch & Co. and JP Morgan the co-managers.

In a separate announcement, Aecom said it won a design contract, valued at $16 million, for a $1.5-billion bridge over the Padma River in Bangladesh. The 3.4-mile river crossing will be the country’s longest bridge, connecting Bangladesh’s southwest region with its capital, Dhaka.

Aecom last month reported a 39 percent increase in fiscal first quarter net income to $40.9 million (38 cents per share), helped by strong growth across its businesses.

Shares of Aecom shares were up 62 cents, or 3 percent, to $20.92 in morning trading on the New York Stock Exchange.

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