Uruguay’s state power company UTE wants to raise $44m via an initial public offering (IPO) of an 80% stake in its 70MW Valentines wind farm.
Valentines is owned by UTE special-purpose company Areaflin, in which the state group will keep a 20% stake.
The issue aims to cover the 30% equity portion of the $171m investment in the project. The remaining 70%, or $119m, came from financing from private banks and the InterAmerican Development Bank.
The
