Markets

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.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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


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

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More