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| Southern Energy, Inc. |
| 900 Ashwood Parkway, Suite 500, Atlanta, GA 30338 * (770) 821-7000 |
| Business Description | The company is a leading integrated power provider with regionally based businesses in North America, Europe and the Asia-Pacific region. |
| Offering Information Company has | ||||
| Trading As | SOE (NYSE) | Industry | Utilities (SIC 4911) | |
| Type of Stock Offered | Common Shares | Filing Date | 4/21/00 | |
| Domestic Shares Offered | 58,000,000 | Offer Date | 9/26/00 | |
| Foreign Shares Offered | 0 | Filing Range | $15.00 - $17.00 | |
| Company Shares | 58,000,000 | Offer Price | $22.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.045 | |
| Gross Proceeds | $1,276,000,000 | Selling | $0.630 | |
| Expenses | - - | Reallowance | $0.100 | |
| Post-IPO Shares | 330,000,000 | Employees | - - | |
| Spun out from: | Southern Company | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | ||
| Revenues | 584.000 | 1,600.000 | 3,750.000 | 1,819.000 | 2,268.000 | - | - |
| Income from Oper. | 14.000 | 73.000 | -24.000 | -12.000 | 362.000 | - | - |
| Net Income | 18.000 | 81.000 | -16.000 | - | 372.000 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 173.97 | 134.38 | -51.49 | 24.684 | - | ||
| Net Income Growth (%) | 350.00 | - | - | - | - | ||
| Oper. Profit Margin (%) | 2.40 | 4.56 | - | - | 15.96 | - | - |
| Net Profit Margin (%) | 3.08 | 5.06 | - | - | 16.40 | - | - |
| Cash Flow - Oper. | 509.00 | - | - | ||||
| Cash Flow - Inv. | -2,263.00 | - | - | ||||
| Cash Flow - Fin. | 1,516.00 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 13,863.00 | Current Assets | 1,285.00 | Current Ratio | 0.40 |
| Total Liab. | 10,761.00 | Current Liab. | 3,215.00 | Debt Ratio | 77.62% |
| Total Equity | 3,102.00 | Working Cap. | -1,930.00 | Debt to Equity Ratio | 3.47 |
| Cash | 323.00 | Return on Assets | 2.68% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including the repayment of short-term indebtedness. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Troutman Sanders LLP, of Atlanta, Georgia |
| Bank's Law Firm | Shearman & Sterling |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Southern Company | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||