NextEra Energy Partners surges in market debut

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Associated Press

Posted on June 27, 2014 at 1:02 PM

Updated Friday, Jun 27 at 1:02 PM

NEW YORK (AP) — Shares of NextEra Energy Partners LP are surging 30 percent in the first day of trading as a public company.

The company priced its initial public offering of approximately 16.3 million common units at $25 per unit, the upper end of the projected range of $23 to $25 per unit.

Based in Juno Beach, Florida, the company raised about $407.5 million.

The underwriters have a 30-day option to buy up to an additional 2.4 million units.

The company is a subsidiary of NextEra Energy Inc. Shares jumped $7.44 to $32.44 in Friday trading on the New York Stock Exchange

The stock is trading under the "NEP" ticker symbol.

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