First Wind Holdings files $450 Mn IPO
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Bangalore: First Wind Holdings, a leading North Indian wind energy company reportedly filed an initial public offering for $450 million. The Class A common stock will be listed on Nasdaq Global Market under the Symbol 'WNDY'. Credit Suisse Securities (USA) LLC, Goldman, Sachs. and JPMorgan are the joint book-running managers of this offering, the company says in their press-release. The registration statement relating to these securities has not become effective though it has been filed with the SEC. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Though the company has not revealed how many shares the company is planning to sell or their expected price, the offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to this offering may be obtained, when available, from the joint book-running managers. Founded in 1995, currently with 130 people, First Wind develops, manages and owns 3 wind farms, located in the Northeast, West and Hawaii, that produce 92 megawatts. It reported $12.3 million in revenue for 2007, including a net loss of $68 million.

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