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Terra Firma Plans to List Infinis Energy in U.K. IPO in November

Oct. 21 (Bloomberg) -- Infinis Energy Plc plans to list in London in November following an initial public offering to allow owner Terra Firma Capital Partners Ltd. to realize part of its investment in the U.K.’s third-biggest renewable power producer.

Infinis plans to offer a dividend of 55 million pounds ($89 million) in the year ending March 2015, its first full financial year following the IPO, the company said today in a statement.

Terra Firma will seek an enterprise value, including debt, of about 1.5 billion pounds in the IPO, said two people with knowledge of the deal who asked not to be identified as the details are private. A spokesman for Infinis in London declined to comment on the valuation sought for the company.

Infinis had earnings before interest, taxes, depreciation and amortization of 125 million pounds on sales of 226 million pounds for the year ended March 2013. Barclays Bank Plc, Deutsche Bank AG and Royal Bank of Canada are among managers of the sale.

European issuers have raised about $17 billion in IPOs this year, compared with $10 billion in the same period in 2012, data compiled by Bloomberg show. Just Retirement Holdings Ltd. and Merlin Entertainments Group Ltd. are among those attempting to sell shares amid rising investor interest in regional markets.

To contact the reporters on this story: Ruth David in London at rdavid9@bloomberg.net; Kiel Porter in London at kporter17@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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