BoA Merrill, Deutsche Bank and UBS mandated for TRUenergy IPO

The Australian power producer, which is wholly owned by Hong Kong-listed CLP Holdings, may raise about $2 billion to $3 billion from a listing in Australia later this year, sources say.

BoA Merrill, Deutsche Bank and UBS mandated for TRUenergy IPO
In addition to conventional plants, TruEnergy has a number of clean-energy investments in Australia

TRUenergy, the Australian unit of Hong Kong-listed power producer CLP Holdings, has mandated Bank of America Merrill Lynch, Deutsche Bank and UBS to work on an initial public offering and listing on the Australian Securities Exchange, sources said yesterday.

The deal, which is expected to come before the end of this year, could raise A$2 billion to A$3 billion $1.97 billion to $2.95 billion, according to various sources and media reports.

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