The utility company raises approximately $250 million through a public share offering at the set price.
MGE Energy priced a public offering of 3.3 million shares at $75.75 per share, generating roughly $250 million in proceeds. The move aims to bolster capital for ongoing investments and debt reduction initiatives.
The offering follows recent market conditions and aligns with the company’s strategic financing plans. No prior share sales of this scale were reported in the current fiscal year.
Shares of MGE Energy traded steady in after-hours activity, reflecting investor response to the pricing announcement.