Credit: Shutterstock photoTerraForm Global, a yieldco formed by SunEdison to own wind and solar power assets in emerging markets, filed on Thursday with the SEC to raise up to $700 million in an initial public offering.
SunEdison's US solar power unit, TerraForm Power ( TERP ), went public in July 2014 and trades 56% above its offer price.
The Bethesda, MA-based company, which was formed in 2014 and booked $21 million in sales for the fiscal year ended December 31, 2014, has not yet disclosed a ticker or an exchange. J.P. Morgan, Barclays, Citi and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
The article The sun never sets on SunEdison's solar assets: TerraForm Global files for a $700 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
