AES/Siemens Storage Venture Fluence Energy Sets IPO Terms
19 Outubro 2021 - 09:21AM
Dow Jones News
By Colin Kellaher
Fluence Energy Inc., the energy-storage venture of AES Corp. and
Siemens AG, on Tuesday said it plans to sell 31 million shares at
between $21 and $24 apiece in its initial public offering.
At the $22.50 midpoint of that range, the Arlington, Va.,
company said it expects net proceeds of about $650.9 million, or
roughly $750 million if the underwriters exercise an option to buy
an additional 4.65 million shares.
Power-generation and utility company AES and Germany's Siemens
launched Fluence as an energy-storage venture in January 2018. The
Qatar Investment Authority, Qatar's sovereign wealth fund, late
last year agreed to invest $125 million in Fluence at a valuation
topping $1 billion, leaving AES and Siemens each with 44%
stakes.
AES and Siemens would still hold more than 90% of Fluence's
voting power after the IPO, according to a filing with the U.S.
Securities and Exchange Commission.
Fluence said it has applied to list its shares on the Nasdaq
Global Market under the symbol FLNC.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 19, 2021 08:06 ET (12:06 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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