04:43 PM EST, 11/03/2025 (MT Newswires) -- AltaGas ( ATGFF ) after trade Monday said it will retains its 10% stake in the Mountain Valley Pipeline (MVP) as a long-term investment, as it AltaGas ( ATGFF ) has entered into an agreement with a syndicate of underwriters for a bought-deal equity financing to raise $400 million

The company is selling underwriters 10.1-million shares priced at $39.65 each. It also granted the syndicate an over-allotment option of an additional 1.52-million shares.

AltaGas ( ATGFF ) said, following a sales process, it decide to hold onto its stake in MVP, which carries natural gas from 303 miles from northwestern West Virginia to southern Virginia and is in the midst of an expansion project.

"While not material on a consolidated level, these actions are expected to maximize value for AltaGas' ( ATGFF ) shareholders, driving modestly higher near- and medium-term normalized EPS accretion relative to a monetization of MVP. The equity issuance will be leverage neutral in the near-term, when compared to a monetization of MVP; and longer-term, post the two expansion projects coming online, will enhance AltaGas' ( ATGFF ) credit metrics and increase investment capacity to fund growth projects," the company said in a release.

AltaGas ( ATGFF ) shares closed down $0.15, or 0.35%, to $41.02 on the Toronto Stock Exchange.