NRG Yield files for up to $400 million IPO
(Reuters) - NRG Yield, a unit of power generator NRG Energy Inc (NRG.N), filed with U.S. regulators to raise up to $400 million in an initial public offering of class A shares.
The company did not disclose the number of shares it plans to sell or the expected price range.
NRG Yield was formed to operate and acquire contracted conventional and renewable power generation infrastructure.
It expects to list its shares on the New York Stock Exchange under the symbol "NYLD."
NRG Energy is the largest competitive power generator in the United States with a capacity of about 47,000 megawatts.
The parent company will beneficially own all of NRG Yield's outstanding class B common stock after the IPO, NRG Yield said in a preliminary filing with the U.S. Securities & Exchange Commission. (link.reuters.com/vez68t)
BofA Merrill Lynch, Goldman Sachs and Citigroup Global Markets are the underwriters on the offering.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Ashutosh Pandey in Bangalore; Editing by Roshni Menon)