KBR, the spin-off of Halliburton's large engineering and construction business serving the government and energy sectors, priced its 27.8 million share offering at $17, the high end of its proposed $15-$17 range. The century-old contractor derives over 50% of its current revenue from US Government-funded projects in the Middle East (mainly Iraq). Credit Suisse, Goldman Sachs and UBS Investment Bank served as underwriters on the IPO. The stock is expected to open for trading on Thursday under the symbol "KBR" on the NYSE.
