IDACORP down after $450 mln equity offering launch

Shares of electric power firm IDACORP IDA.N down 1.3% on thin post-market trading volume to $112.24 after launching equity offering

Boise, Idaho-based utility commences $450 mln stock offering

It enters into 18-month forward sales agreements with jt lead bookrunners Morgan Stanley, JP Morgan and Wells Fargo

Upon settlement of such agreements, co to use net proceeds for general purposes, which may include capex

Co has 54 mln shares outstanding for ~$6.1 bln market cap

IDA shares on Thurs finished down 2.3% at $113.68, trimming YTD gain to 4%. Stock hit intraday record high of $120.84 on Apr 3