KBR IPO

US: The sale of a 19% stake in KBR raised US$ 508 million for its parent company Halliburton. The company sold 32 million shares in its wholly-owned subsidiary in November at US$ 17 each, representing 19% of the equity. The initial public offering (IPO) valued KBR at US$ 2.78, but shares have traded as high as US$ 22 since then, almost a +30% rise on the IPO price. KBR had revenues of US$ 10.1 billion last year, and was ranked 22nd in iC ’s league table of the world’s 200 largest construction companies.