April 1 Spanish renewable energy and engineering
firm Abengoa SA made public its U.S. subsidiary's plans
to raise up to $600 million in an initial public offering of
Abengoa in March filed confidentially with the U.S
regulators for the proposed IPO of its yieldco vehicle.
Abengoa Yield Plc, the U.S. subsidiary, intends to list its
shares on the Nasdaq under the symbol "ABY," the company said on
Citigroup and BofA Merrill Lynch were underwriting the IPO,
Abengoa Yield told the U.S Securities and Exchange Commission in
a preliminary prospectus.
Abengoa said in October it hoped to raise about 450 million
euros ($620 million) in a U.S. share offer.
Abengoa plans to use the subsidiary to own, manage and
acquire renewable energy assets in the United States and South
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.
($1 = 0.7249 Euros)
(Reporting by Avik Das in Bangalore; Editing by Sriraj