Latin American power producer IC Power sets terms for $350 million IPO
IC Power, which operates gas and oil power facilities in Peru and other Latin American markets, announced terms for its IPO on Monday.
The Lima, Peru-based company plans to raise $350 million by offering 25.9 million shares at a price range of $12 to $15. At the midpoint of the proposed range, IC Power would command a fully diluted market value of $1.4 billion.
IC Power was founded in 2007 and booked $1.7 billion in sales for the 12 months ended September 30, 2016. It plans to list on the NYSE under the symbol ICP. BofA Merrill Lynch, Credit Suisse, Goldman Sachs and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of January 30, 2017.
The article Latin American power producer IC Power sets terms for $350 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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