NRG Energy, Inc. ( NRG ) announced that its wholly owned subsidiary, NRG Yield, Inc., has filed a registration statement with the Securities and Exchange Commission in anticipation of a proposed initial public offering of the Class A common stock of NRG Yield.
NRG Yield was formed by NRG to own and operate a diversified portfolio of long-term contracted renewable energy, conventional generation facilities and thermal infrastructure assets in the U.S.
Following the offering, NRG is expected to retain a majority voting interest in NRG Yield and a corresponding economic interest in its subsidiaries. The number of shares to be offered and the price range for the offering have not yet been determined.
NRG is up 4.8% to $26.87 in mid-day trade. Shares have a day's range of $26.25 - $27.34, within a 52-week range of $14.69 - $28.67.
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