UK renewables developer Infinis Energy, which is backed by private equity firm Terra Firma, could earn a market capitalisation of £930m if its shares sell at the top end of its 260p to 310p range.
The company, which is owned by investment firm Terra Firma and operates 147 power stations across the UK, revealed plans to IPO in London last month.The firm plans to sell down its stake in the business, one of the largest renewable power generators in the UK. Infinis was previously rumoured to be seeking a £1bn flotation in May 2012.
Barclays, Deutsche Bank and RBC Capital Markets are running the IPO.
Chief executive Eric Machiels said, ‘With its leading market position, strong track record of stable cash flow generation and the growth opportunities we see for UK renewable power generators, I have every confidence that Infinis will continue to deliver long-term value and generate attractive returns for all our shareholders.
‘Infinis’ strong cashflows underpin a sustainable, inflation-linked dividend and, together with strong growth prospects in a rapidly expanding renewables sector, this IPO offers a good prospect for investors.’
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