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Its electric: IC Power files for an IPO to raise up to $300 million

August 31, 2015
ICP

IC Power, an operator of power facilities in less-developed markets in Latin America, filed on Monday with the SEC to raise up to $100 million in an initial public offering. However, we believe this is a placeholder for an IPO that could raise up to $300 million.

The Singapore-based company, which was founded in 2007 and booked $1.4 billion in sales for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol ICP. BofA Merrill Lynch and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.