Reuters: IPOX® CEO Josef Schuster Comments on YPF Electric Energy’s U.S. IPO Filing
Reuters reports that Argentina-based power producer YPF Electric Energy has filed for a U.S. IPO following a 45.8% increase in quarterly revenue. The company operates 17 thermal and renewable power plants with a combined installed capacity of 3,764 megawatts and plans to list American Depositary Shares on the NYSE under the ticker “YLUZ.”
The filing comes amid improving investor sentiment toward Argentina following market-oriented reforms and renewed interest in the country’s energy sector. YPF Electric Energy reported revenue of $217.2 million for the three months ended March 31, compared with $149 million a year earlier, while net profit increased to $66.5 million from $43.4 million.
IPOX® CEO Josef Schuster commented on the company’s potential appeal to investors and the favorable environment for large international companies seeking U.S. listings:
“Given its significant size and role amongst leading utilities in Argentina, I believe there will be significant interest for the IPO in principle.”
“The strong debut of Korea's SK Hynix last week underlines that the IPO window for large foreign companies to list in the U.S. is wide open. This is the motivation for YPF Electric Energy to go public and trade in the U.S. at this time.”
Read the full article by Prakhar Srivastava on Reuters: Argentina's YPF Electric Energy reveals revenue jump in US IPO filing
