After an initial public offering in April 2009 and two additional follow-on offerings in June and August 2009, RWE will sell the shares at $21.63 per share through a group of underwriters. Net proceeds of around $784 million are estimated for RWE.

RWE has granted the underwriters an over-allotment option to purchase up to 3.7 million additional shares, which, if exercised in full, will completely divest RWE’s shareholding in American Water.