NexGen Energy [XGEN] [link] had its P500 million IPO registration approved by the SEC. XGEN is a subsidiary of Pure Energy Holdings Corp (PEHC), the energy generation holding company owned by Dexter Tiu that is also the parent company of Repower Energy Development Corp [REDC 5.40 ?3.9%; 18% avgVol].XGEN operates solar and wind power plants through its subsidiary companies and plans to expand its portfolio to 2.35 gigawatts over the next 10 years. XGEN also plans to get into offshore wind development.
MB BOTTOM-LINE: The prospectus calls for a July 16th IPO, but we won’t know the actual dates until Mr. Tiu drives the application through the PSE’s approval process. Once the PSE approves, we’ll get a Preliminary Terms and Conditions notice from the PSE that will have all the material terms of the deal, including the pricing, offer, and listing dates. It’s still possible for XGEN to make adjustments at each stage along the way, but each hurdle like this SEC approval that XGEN passes increases the certainty of things. I’ll do a deep dive once we get that Preliminary Terms and Conditions notice!
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