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Aug. 31, 2020, 10:07 a.m. EDT

Golar LNG JV Hygo Energy Transition files to go public

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By Tomi Kilgore

Hygo Energy Transition Ltd. has filed to go public, but has not yet determined the number of shares it plans to offer, or the number of shares that will be outstanding after the initial public offering. Hygo Energy, formerly known as Golar Power Ltd., is a joint venture between Golar LNG Ltd. /zigman2/quotes/207737816/composite GLNG -2.66% and investment vehicles affiliated with Stonepeak Infrastructure Partners. Golar's stock surged 5.4% in morning trading. Hygo provides integrated downstream liquid natural gas (LNG)-based transportation, as well as associated terminal and power generation infrastructure. Morgan Stanley and Goldman Sachs are the lead bookrunning managers of the proposed IPO. The company is looking to go public at a good time for IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.85% has run up 29.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% has gained 15.1%.

/zigman2/quotes/207737816/composite
US : U.S.: Nasdaq
$ 11.34
-0.31 -2.66%
Volume: 699,521
Dec. 3, 2021 4:00p
P/E Ratio
3.36
Dividend Yield
0.00%
Market Cap
$1.25 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 57.41
-2.30 -3.85%
Volume: 161,171
Dec. 3, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,538.43
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
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