NRG Yield shares jump in IPO

(AP) - The initial public offering for a subsidiary of NRG Energy Inc. got off to an electric start on Wednesday, jumping more than 24 percent in morning trading.

The IPO for NRG Yield Inc. priced at $22 on Tuesday, the company said. Shares were up $5.34, or 24.3 percent, to $27.34 in morning trading. More than 10 million shares had changed hands. The shares are listed on the New York Stock Exchange under the ticker symbol "NYLD."

The offering of 19.575 million shares raised more than $430 million. The banks managing the IPO have an option to buy 2.9 million more shares if demand is strong enough.

NRG created the subsidiary to buy and operate natural gas, solar and wind plants. Shares of NRG Energy fell 6 cents to $28.73.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Mo' Money, Mo' Problems
    Marshawn Lynch's hold out shows even the Seahawks aren't immune to money issues

  • On the Eastside
    An on-going investigation underscores a growing sex-trafficking problem in Bellevue
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.