Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

TransAlta Jumps Most in 4 Years on Renewables IPO

TransAlta Corp., Canada’s largest publicly traded renewable-power generator, jumped the most in more than four years after announcing it will sell shares in a new company that will hold about half of its wind and hydropower assets.

TransAlta rose 10 percent to C$14.36 at the close in Toronto, the most since October 2008. The company said it expects to raise C$200 million ($191 million) to C$250 million from selling a 15 to 20 percent stake in the company and will use the proceeds to repay debt.

The new company, TransAlta Renewables Inc., will hold 1,112 net megawatts worth of wind and hydro power generation, Calgary-based TransAlta said in a statement late yesterday. The company now owns 2,048 megawatts of wind and hydro capacity, according to its website. The initial public offering is expected to close in August. CIBC World Markets Inc. and RBC Capital Markets LLC are lead underwriters for the sale.

“The move signals a new era of a greater focus on delivering returns” for TransAlta’s shareholders, Benjamin Pham, a Toronto-based analyst with Bank of Montreal, wrote in a note today. The company’s renewable assets have been undervalued by the market for years, he wrote.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.