Southwest Gas Unit Seeks Up to $315 Million in IPO, Placement

Centuri Holdings Inc., the infrastructure services business of power company Southwest Gas Holdings Inc., is seeking to raise as much as $315 million in an initial public offering and concurrent private placement.

Centuri plans to offer 12.4 million shares for $18 to $21 each, according to a filing Monday with the US Securities and Exchange Commission. Separately, investment funds backed by billionaire activist Carl Icahn agreed to purchase about 2.6 million shares in a concurrent private placement, the filing shows.

At the top of the range, the Phoenix-based business would have a market value of $1.8 billion based ...