Sterling Construction Co. is all set to offer more than 2.4 million shares as it is expected to increase the shares in outstanding at a minimum of about 17 per cent. The company works on different projects involving water infrastructure and transportation

Sterling had previously warned the investors the previous year that the income might become lower than what it was in 2009 and the major reason seemed to be the rising competition in the field, and also the uncertainty revolving around federal funding.

As the commercial and residential markets seem to remain lethargic for a longer period of time, all the building companies are fiercely battling for the many public projects that have huge demands. It is a significant fact that Sterling had seen a higher profit in that quarter and the reductions in cost had offset a slight drop in the revenue.

It has been reported that the company is expecting the proceeds from this public offering to settle up all debts that are under their revolving credit facility and it also looks forward to make its balance sheet stronger.