NRG calls on partial redemption of preferred stock

Power plant owner NRG Energy Inc. on Friday said it has called for the partial redemption of its 4 percent convertible preferred stock, aiming cut nearly half of its outstanding preferred stock shares.

The company seeks to redeem 210,000 of the 419,587 outstanding shares of the preferred stock. The redemption date will be Dec. 21, with a redemption price of $20 per share. The dividend payment due on Dec. 15 on the preferred stock will be made in the usual manner, the company said.

Shares of the company rose 41 cents, or 1.8 percent, to close Friday at $23.81.