54.3 F
San Diego
Thursday, Mar 28, 2024
-Advertisement-

Sempra’s Mexican Subsidiary Looks to Sell $1.4 Billion in Stock

Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova S.A.B. de C.V., hopes this month to sell stock worth $1.4 billion, a quarter of which will likely go to its San Diego-based parent company.

The offer announced Oct. 3 will consist of 323 million shares of primary stock, though the company better known as Ienova said the total could reach up to 380 million. It expects to conclude the sale by Oct. 13.

Ienova’s news release on the plan said Sempra has indicated it wants to buy $350 million worth of the stock.

As part of the plan, Ienova said it expects to meet with investors in Mexico City; Monterrey, Mexico; San Francisco; Boston; Chicago; New York; London; Rio de Janeiro; San Paulo; and Santiago, Chile.

Ienova is one of Mexico’s largest private energy companies. It develops, builds and operates Mexican energy infrastructure.

Sempra is a Fortune 500 energy services holding company with 2015 revenues exceeding $10 billion.

-Advertisement-

Featured Articles

Oberon Eyes Europe for Renewable DME

Leaders of Influence in Law 2024

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-