Allegheny Energy makes $152m from share sale

“This stock issuance is another significant step in our programme to strengthen the financial condition of Allegheny Energy,” said Paul Evanson, chairman and chief executive. “With market conditions favourable, we decided this was an appropriate time to issue equity.”

Since December 1, 2003, Allegheny has reduced debt by around $700 million. And since June 2004, the company has agreed contracts to sell its West Virginia gas operations for $141 million in cash and $87 million in assumed long-

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