Norway's Scatec Solar eyes IPO

Norway's Scatec Solar is planning an initial public offering (IPO) of its shares on the Oslo stock exchange, said the company.

The solar power producer said the key objectives of the listing are to increase its access to capital and raise equity for further growth.

Investment bank ABG Sundal Collier Norge and Carnegie have been retained as joint-lead managers and bookrunners in connection with the planned IPO.

"Our strong track record paired with a sizable project backlog and pipeline, will enable us to generate attractive returns to our current and future shareholders," said CEO Raymond Carlsen.

Scatec Solar develops, owns and operates solar plants, and will in 2014 reach a total operating capacity of 219MW in the Czech Republic, South Africa and Rwanda, the company said.