NRG Yield shares jump in IPOJuly 17, 2013 @ 8:07 am
(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 This material may not be published, broadcast, rewritten or redistributed.)
Light Rail Crime
Dori says he won't ride mass transit because politicians have let criminals take over
History of Seafair
We take a look back at how Seafair became a Seattle tradition
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.