NEW YORK Aug 18 Energy company AEI is seeking
to raise as much as $862.5 million in an initial public
offering, according to a regulatory filing on Tuesday.
AEI, based in the Cayman Islands but with a main U.S.
office in Houston, said in a prospectus filed with the U.S.
Securities and Exchange Commission that it focuses solely on
emerging markets, including Latin America and China, because of
their economic growth rates.
The company has 4.9 million electric power customers and
its assets include nearly 120,000 miles of power distribution
and transmission lines and electric power generation capacity
of 2,181 megawatts. AEI also operates natural gas pipelines and
For the six months ended June 30, AEI had revenue of $3.7
billion, a drop of 19.6 percent over the year-earlier period,
but earned a profit of $221 million.
AEI becomes the 8th company to file an IPO prospectus in
the United States in August, as the IPO market continues to
Its expected proceeds make it the third-largest IPO in
pipeline, according to Thomson Reuters data, behind the $2
billion sought by the U.S. unit of Brazilian meatpacker JBS SA
(JBSS3.SA), and Hyatt Hotels Corp's plan to raise as much as
Last week, another energy infrastructure company,
InfrastruX Group Inc, filed for a $290 million IPO.
AEI's filing did not indicate the terms of the planned IPO,
including its potential timing.
AEI's main shareholders include funds that have invested
through Ashmore Investment Management Ltd, part of Ashmore
Group Plc, (ASHM.L) and own 55 percent of its shares, as well
funds managed by Eton Park Capital, which owned 6 percent as of
The IPO's bookrunners will be led by Goldman Sachs & Co,
Credit Suisse, Citi and J.P. Morgan.
(Reporting by Phil Wahba; Editing by Steve Orlofsky)