International Power to Offer 35% Equity in Al Kamil Power Plant via Initial Public Offering in Oman
(London – 21 July 2004) International Power reports that its wholly owned subsidiary Al Kamil Power Company (AKPC), which owns the 285MW Al Kamil plant in Oman, will issue a prospectus for an Initial Public Offering (IPO) of 35% of the Company’s equity on Tuesday 27 July 2004.
This offering is in accordance with original project agreements with the Government of Oman, under which International Power is required to sell at least 35% of the share capital in AKPC in the Omani public market. The listing of AKPC shares on the Muscat Securities Market will be completed on Wednesday 25 August.
If fully subscribed, the IPO is expected to generate net proceeds of approximately $15 million (£8 million).
For further information please contact:
+44(0)20 7320 8681
+44(0)20 7320 8619
Notes to Editors
Al Kamil's entire output is sold to Oman’s Ministry of Electricity and Water under a 15-year Power Purchase Agreement that expires in 2017.
About International Power
International Power plc is a leading independent electricity generating company with 11,072MW (net) in operation and 1,655MW (net) under construction. Among the countries where International Power has facilities in operation or under construction are Australia, the United States, the United Kingdom, the Czech Republic, the UAE, Portugal, Turkey, Malaysia, Oman, Pakistan and Thailand. International Power was listed on the London Stock Exchange and the New York Stock Exchange (as ADRs), on 2 October 2000. The ticker symbol on both stock exchanges is "IPR".