NASDAQ Welcomes Pattern Energy Group Inc. (NASDAQ: PEGI) to The NASDAQ Stock
NEW YORK, Sept. 27, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc.
(Nasdaq:NDAQ) announced today that trading of Pattern Energy Group Inc.
(Nasdaq:PEGI), a premium independent power company, commenced on The NASDAQ
Stock Market on September 27, 2013.
Pattern is a premium independent power company that owns and operates eight
wind power projects in the United States, Canada and Chile that use proven,
best-in-class technology and have a total owned capacity of 1,041 MW. Pattern
is focused on owning and operating power projects that generate stable
long-term cash flows in attractive markets with potential for continued
growth. Each of its wind projects has contracted to sell all of its energy
output, or a majority, on a long-term, fixed-price power sale agreement with a
creditworthy counterparty. Pattern has a clear growth strategy with an
identified pipeline of renewable energy acquisitions.
"Through its premier leadership and experience, Pattern Energy has become one
of the leading independent wind and transmission companies," said Bruce Aust,
Executive Vice President, Global Corporate Client Group, NASDAQ OMX. "We are
proud to welcome Pattern to the NASDAQ family, and we look forward to a
successful and enduring partnership with the company and its shareholders."
Pattern continues an increasing trend of private equity backed IPOs choosing
to list on The NASDAQ Stock Market. Other recent private equity backed IPOs
include HD Supply, Norwegian Cruise Line Holdings and CDW Corp.
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