Wind energy company Pattern Energy Group sets terms for $320 million IPO

By Renaissance Capital,

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Pattern Energy Group, which owns and operates eight wind power projects in the US, Canada and Chile, announced terms for its IPO on Monday. The San Francisco, CA-based company plans to raise $320 million by offering 16.0 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Pattern Energy Group would command a fully diluted market value of $1.0 billion.

Pattern Energy Group, which was founded in 2009 and booked $154 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol PEGI. Pattern Energy Group initially filed confidentially on November 13, 2012. BMO Capital Markets, RBC Capital Markets and Morgan Stanley are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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