PP&L Resources Inc., (NYSE: PPL), the parent company of Pennsylvania Power & Light Co., said Wednesday (5/17) that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 5,000,000 shares of PP&L Resources common stock. PP&L Resources also proposes to grant the underwriters an option to purchase up to 750,000 additional shares to cover any over-allotments.

The shares would be offered to the public by a syndicate managed by Morgan Stanley & Co., Incorporated, Merrill Lynch & Co. and Prudential Securities, Incorporated.

The net proceeds received by PP&L Resources from the stock offering will be contributed to the equity capital of Pennsylvania Power & Light, which will use the capital for general corporate purposes, including the reduction of short-term debt.

The common stock of PP&L Resources is listed on the New York and Philadelphia stock exchanges under the symbol "PPL." An offering date has not yet been set.