IPO Roundup: Tesla partner Neoen registers for US$525mln in Paris listing
French energy firm Neoen SAS, the renewable energy project developer controlled by French billionaire Jacques Veyrat, said Wednesday that it registered with France’s AMF financial regulator to raise about €450mln (US$525mln) in an initial public offering, which would be the largest in France this year.
Paris-based Neoen has nearly 2 gigawatts of clean power capacity in operation and under construction, and will use the proceeds to fund its plans to add capacity at its power plants, the company said in a statement.
READ: Tesla faces US criminal probe over Musk’s statements on aborted go-private plan
Neoen CEO Xavier Barbaro has said the energy firm’s plans call for total capacity in operation or under construction of at least 5 gigawatts by the end of 2021.
A share sale could value the company at about €1bn, people familiar with the matter said previously, according to Reuters.
Tesla and Neoen Down Under
In July 2017, Tesla (NASDAQ:TSLA) CEO Elon Musk said his electric-car company and Neoen won a government bid to build the world’s largest lithium-ion battery to store renewable energy in South Australia.
The 100-megawatt energy storage solution is expected to power much of South Australia and give it a steadier electricity supply.
Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/205238/ipo-roundup-tesla-partner-neoen-registers-for-us525mln-in-paris-listing-205238.html
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