United States

United States

Pattern shares up 6%

UNITED STATES: Pattern Energy ended its first day of trading on New York's NASDAQ stock exchange Friday with a share price of $23.27, up about 6% from the company's initial asking price.

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The California-based company owns and operates eight wind power projects in the United States, Canada and Chile with a total generating capacity of 1,041 MW.

It offered 16 million shares, and expects to raise around $318.6 million in net proceeds.

Pattern priced the shares in its initial public offering, the first for a US wind energy company, at $22, above the $19-21 range initially expected. The stock opened at $24.10 and touched a high of $24.30 during the day.

The company is trading on the NASDAQ Global Market and Toronto Stock Exchange under the ticker symbols PEGI and PEG respectively.

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