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Journalism of Courage
India’s PLG Power Ltd has filed for $100 million initial public offering (IPO) on London’s Alternate Investment Market (AIM) to fund the expansion of its solar power manufacturing facilities,its chief executive said on Monday.
The firm has mandated Peel Hunt to arrange the issue and aims to get listed on AIM,the London Stock Exchange’s international market for smaller growing companies,by September,Puneet Goyal told Reuters.
PLG also plans to raise a further $100 million through a follow-on offering,about six months after the IPO,Goyal said.
The company is in talks with private equity firm CVC Capital to sell a quarter of its stake,but is yet to reach a final deal price,Goyal said.
