Silver Ridge Power Inc., founded in 2012 by U.S. private equity firm Riverstone Holdings and AES Corp., has canceled its planned initial public offering (IPO) on the Toronto Stock Exchange, citing “market conditions.” Expected IPO proceeds were recently reported to be down from those announced in April, when the company filed a preliminary prospectus. The Arlington, Virginia-based Silver Ridge acquires solar plants and projects owned by AES Solar Energy Ltd., a 2008 joint venture between AES and Riverstone.
Silver Ridge Power Inc. today announced that it has withdrawn the proposed initial public offering of its shares due to market conditions.
SOURCE: Silver Ridge Power Inc.
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