Dive Summary:
- In a press release, NRG Energy said on Monday that its subsidiary NRG Yield will hold an initial public offering (IPO) of Class A common stock.
- NRG Yield is seeking to raise up to $411.1 million, saying it expects to sell 19.575 million shares at $19 to $21 apiece.
- NRG Yield was formed in 2012 in order to buy and operate natural gas, solar and wind generation plants.
From the article:
The banks managing the IPO could buy another 2.9 million shares if there's demand for them, adding to the proceeds. [...]
Shares of NRG Yield are expected to trade on the New York Stock Exchange under the symbol "NYLD."
