Prologis to Float New Stock Issue

Prologis (NYSE: PLD  ) has announced that it will sell 31 million new pieces of itself. That's the number of common shares it will float in an upcoming, underwritten public stock offering. The price of the shares will be $41.60 apiece, and the company's underwriters have been granted a 30-day purchase option for up to an additional 4.65 million shares to cover overallotments, if any.

Prologis is to use the proceeds of the issue for debt repayments, as well as for "general corporate purposes."

Morgan Stanley (NYSE: MS  ) , JPMorgan Chase (NYSE: JPM  ) unit J.P. Morgan, Goldman Sachs (NYSE: GS  ) , and Wells Fargo's (NYSE: WFC  ) Securities arm are the joint book-runners of the issue.


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