Orion Power IPO?
Friday August 18, 8:40 pm Eastern Time
Orion Power registers shares for initial offering
By Jim Brumm
NEW YORK, Aug 18 (Reuters) - Orion Power Holdings Inc., which has spent $3 billion acquiring U.S. and Canadian power plants over the past two years, said on Friday it has registered its stock for public sale.
The sale, which analysts expect later this year, comes as the shares of power plant operators are changing hands at record prices. In the past week, AES (NYSE:AES - news), Calpine (NYSE:CPN - news), Dynegy (NYSE:DYN - news) and NRG (NYSE:NRG - news) shares traded at record highs.
Orion, which did not disclose the number of shares it plans to sell, said in a filing with the Securities and Exchange Commission that it plans to use the proceeds for additional power plant acquisitions. |
