U.S. electricity utility holding company Alliant to secure $326 mln in IPO

U.S.-based electricity utility holding company Alliant Energy Corp is planning to secure $326 million in an initial public offering (IPO).

With the proposed IPO, Alliant Energy will use the money to settle down the forward sale agreements for general corporate purposes, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.

In addition, the underwriters have been granted an option to purchase up to $48.9 million of additional shares of Alliant Energy's common stock, if it is fully exercised.

Alliant Energy, proposing to offer the shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, hired U.S. investment manager Goldman Sachs & Co. LLC and Bank of America Merrill Lynch to act as underwriters on the IPO.