March 7, 2018 / 11:16 AM / in 9 months

MEDIA-French renewables firm Neoen mandates banks for IPO - Bloomberg

** French renewable energy producer Neoen has mandated banks including Barclays Plc and Natixis SA to prepare for an initial public offering in the fourth quarter of this year, Bloomberg, quoting anonymous sources, reported.

** It added that JPMorgan Chase & Co and Societe Generale SA will also advise on the listing on the Paris stock exchange, which could value the company at more than 1 billion euros.

** Neoen may sell 400 million euros of new shares at the IPO to fund growth while Omnes Capital may sell its 24 percent stake.

** Neoen Chief Executive Xavier Barbaro told Reuters in Sept 2016 the firm was considering an IPO before the end of the decade to fund a doubling of its installed capacity to two gigawatts by 2020. Barbaro said Jacques Veyrat, former CDEO of commodities giant Louis Dreyfus, would want to remain the largest shareholder.

** Neoen could not immediately be reached for comment.

Note: Reuters has not verified this story and does not vouch for its accuracy

Reporting by Geert De Clercq

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