Printer Friendly

NEVADA POWER ANNOUNCES RESULTS FROM COMMON STOCK OFFERING

 LAS VEGAS, June 16 /PRNewswire/ -- Nevada Power Co. (NYSE: NVP) today announced the successful sale of 2,700,000 shares of common stock. Net proceeds from the sale of $65.7 million will be used to pay down short-term debt incurred mainly as a result of construction to meet growth demands in the company's Southern Nevada service territory. The company added more than 16,000 new customers in 1992, a 4.6 percent increase from the previous year. Proceeds will also be used for general corporate purposes.
 "We are pleased by the response from those who are willing to invest in Nevada Power," said Steven Rigazio, vice president and chief financial officer. "This is an important part of our overall corporate financial strategy."
 As of June 16, 1993, Nevada Power Co. had approximately 41 million shares of common stock outstanding.
 Nevada Power Co. is an electric utility serving 385,000 customers in the extreme southern portion of the state. With customer growth projections of between 4 percent and 5 percent through the rest of the decade, the company will remain one of the country's fastest growing electrical utilities. The company's generation is primarily coal based with no investment in nuclear facilities.
 -0- 6/16/93
 /CONTACT: Rob McCoy, 702-367-5680, or Robyn A. Warsinske, manager of Investor Relations, 702-367-5610, both of Nevada Power/
 (NVP)


CO: Nevada Power Co. ST: Nevada IN: UTI SU: OFR

MF-JB -- LA021 -- 2664 06/16/93 13:59 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 16, 1993
Words:242
Previous Article:CARTER HAWLEY HALE PROMOTES BROCKDORF TO VICE PRESIDENT
Next Article:CURT BEHLMER NAMED VICE PRESIDENT, TECHNICAL OPERATIONS AT WARNER HOLLYWOOD STUDIOS
Topics:


Related Articles
NEVADA POWER DECLARES COMMON DIVIDEND
NEVADA POWER CO. DECLARES COMMON DIVIDEND
NEVADA POWER CO. DECLARES COMMON DIVIDEND
NEVADA POWER ANNOUNCES RESULTS FROM COMMON STOCK OFFERING
NEVADA ENERGY DECLARES 5% STOCK DIVIDEND; ANNOUNCES SALES INCREASE
NEVADA POWER CO. DECLARES COMMON DIVIDEND
NEVADA POWER COMPANY DECLARES COMMON DIVIDEND
NEVADA POWER COMPANY DECLARES COMMON DIVIDEND
Nevada Power Company Declares Common Dividend.
Nevada Power Company Declares Common Dividend.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters