Ormat Technologies Inc., a subsidiary of Ormat Industries (TASE:ORMT), announced today that it has filed a registration statement with the US Securities and Exchange Commission for the proposed $100 million initial public offering (IPO) of its common stock, valued at $0.001 per share.
The offering is being made through an underwriting syndicate led by Lehman Brothers Inc.
Ormat Technologies is primarily engaged in the geothermal and recovered energy power business. The company designs, develops, builds, owns and operates geothermal power plants, and also designs, develops and builds, and plans to own and operate, recovered energy- based power plants, in each case, using equipment that the company designs and manufactures.
Founded in 1994, the company currently has operations in the United States, Israel, Guatemala, Kenya, Nicaragua and the Philippines.
Published by Globes [online] - www.globes.co.il - on Wednesday, July 21, 2004