InfraREIT Prices IPO Above Range

(RTTNews) - InfraREIT, Inc. said late Thursday that it has priced its initial public offering of 20 million shares at $23 per share, which is above its previously estimated price range of $19 to $21 per share.

The shares of common stock are expected to begin trading on the New York Stock Exchange on Friday, January 30, under the ticker symbol "HIFR".

The underwriters have been granted a 30-day option to purchase up to an additional 3 million shares of common stock from InfraREIT at the initial public offering price, less underwriting discounts and commissions.

The offering is expected to close on or about February 4.

InfraREIT is a real estate investment trust that owns rate-regulated electric transmission and distribution assets in the state of Texas. The company is externally managed by Hunt Utility Services, LLC, an affiliate of Hunt Consolidated, Inc.