US: TRW completes public offering
TRW Automotive Holdings has announced that it has successfully completed its previously announced public offering of 16,100,000 shares of common stock at a price of $17.50 per share to the public.
The number of shares included 2,100,000 shares sold pursuant to the exercise of the underwriters' over-allotment option.
TRW said it received approximately US$269m in net proceeds from the offering.
Approximately US$87m of the net proceeds will be used to repay borrowings.