NEW YORK, Sept. 27, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today that trading of Pattern Energy Group Inc. (Nasdaq:PEGI), a premium independent power company, commenced on The NASDAQ Stock Market on September 27, 2013.
Pattern is a premium independent power company that owns and operates eight wind power projects in the United States, Canada and Chile that use proven, best-in-class technology and have a total owned capacity of 1,041 MW. Pattern is focused on owning and operating power projects that generate stable long-term cash flows in attractive markets with potential for continued growth. Each of its wind projects has contracted to sell all of its energy output, or a majority, on a long-term, fixed-price power sale agreement with a creditworthy counterparty. Pattern has a clear growth strategy with an identified pipeline of renewable energy acquisitions.
"Through its premier leadership and experience, Pattern Energy has become one of the leading independent wind and transmission companies," said Bruce Aust, Executive Vice President, Global Corporate Client Group, NASDAQ OMX. "We are proud to welcome Pattern to the NASDAQ family, and we look forward to a successful and enduring partnership with the company and its shareholders."
Pattern continues an increasing trend of private equity backed IPOs choosing to list on The NASDAQ Stock Market. Other recent private equity backed IPOs include HD Supply, Norwegian Cruise Line Holdings and CDW Corp.
About NASDAQ OMX Group:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither The NASDAQ OMX Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding NASDAQ-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
CONTACT: NASDAQ Media Contact: Christine Barna (646) 441-5310 Christine.Barna@nasdaqomx.com
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