Central Puerto, the leading private sector power producer in Argentina, announced terms for its IPO on Thursday.
The Buenos Aires, Argentina-based company plans to raise $692 million by offering 35.5 million ADSs (100% insider) at a price range of $17.50 to $21.50. At the midpoint of the proposed range, Central Puerto would command a fully diluted market value of $3.0 billion.
Central Puerto was founded in 1989 and booked $412 million in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol CEPU. BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are the joint bookrunners on the deal. It is expected to price during the week of January 29, 2018.
