Centuri indicated to open at $22-$24, IPO priced at $21 per share

Southwest Gas Holdings (SWX) and Centuri Holdings (CTRI), a wholly owned subsidiary of Southwest Gas, priced Centuri’s initial public offering of 12.4M shares of Centuri’s common stock at an initial public offering price of $21.00 per share.Centuri’s common stock has been approved for listing on the New York Stock Exchange under the symbol “CTRI.” Centuri intends to use the net proceeds from the IPO and the concurrent private placement to repay amounts under Centuri’s revolving credit facility and under Centuri’s term loan and the remainder for general corporate purposes. Centuri is a strategic utility infrastructure services company that partners with regulated utilities to “build and maintain the energy network that powers millions of homes and businesses across the United States and Canada,” the company says.