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Blackstone’s vivint Solar files for $200m NYSE IPO

27 Aug 2014

solar powerPrivate equity-backed home solar power systems provider Vivint Solar has filed for a $200m IPO on the New York Stock Exchange.

Goldman Sachs, Merrill Lynch, Credit Suisse, Barclays, Deutsche Bank, Morgan Stanley and Citigroup are acting as underwriters for the IPO, according to a document filed with the US Securities and Exchange Commission.

The company, which is backed by Blackstone, did not say how many shares it was looking to float and at what price.

The filing showed that Blackstone will continue to hold a majority stake in Vivint Solar following the IPO.

Last year the Provo, Utah-based company posted a net loss of $56.47m on revenues of $5.86m.

Blackstone initially bought Vivint for $2bn in 2012 in an effort to gain more than 670,000 energy management, solar power and home security customers in North America.

Last year its Vivint Solar arm received $540m in funding from two unidentified financial institutions in order to build home power generation systems.

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