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THE AES CORPORATION

(AES)
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AES/Siemens Storage Venture Fluence Energy Sets IPO Terms

10/19/2021 | 06:06am EST

By Colin Kellaher

Fluence Energy Inc., the energy-storage venture of AES Corp. and Siemens AG, on Tuesday said it plans to sell 31 million shares at between $21 and $24 apiece in its initial public offering.

At the $22.50 midpoint of that range, the Arlington, Va., company said it expects net proceeds of about $650.9 million, or roughly $750 million if the underwriters exercise an option to buy an additional 4.65 million shares.

Power-generation and utility company AES and Germany's Siemens launched Fluence as an energy-storage venture in January 2018. The Qatar Investment Authority, Qatar's sovereign wealth fund, late last year agreed to invest $125 million in Fluence at a valuation topping $1 billion, leaving AES and Siemens each with 44% stakes.

AES and Siemens would still hold more than 90% of Fluence's voting power after the IPO, according to a filing with the U.S. Securities and Exchange Commission.

Fluence said it has applied to list its shares on the Nasdaq Global Market under the symbol FLNC.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

10-19-21 0806ET

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 4.77% 148.02 Delayed Quote.20.22%
THE AES CORPORATION 0.86% 23.58 Delayed Quote.-0.51%
All news about THE AES CORPORATION
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11/03AES Reaffirms 7% to 9% Annualized Growth Target Through 2025; Now Expects to Sign 5 GW ..
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11/03AES CORP : Results of Operations and Financial Condition, Regulation FD Disclosure, Financ..
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11/03The AES Corporation Reports Earnings Results for the Third Quarter and Nine Months Ende..
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11/03AES, Microsoft Team Up to Power Data Centers With Renewable Energy
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More news
Analyst Recommendations on THE AES CORPORATION
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Financials (USD)
Sales 2021 10 618 M - -
Net income 2021 506 M - -
Net Debt 2021 18 300 M - -
P/E ratio 2021 28,7x
Yield 2021 2,58%
Capitalization 15 588 M 15 588 M -
EV / Sales 2021 3,19x
EV / Sales 2022 3,30x
Nbr of Employees 8 162
Free-Float 81,2%
Chart THE AES CORPORATION
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The AES Corporation Technical Analysis Chart | AES | US00130H1059 | MarketScreener
Technical analysis trends THE AES CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Last Close Price 23,38 $
Average target price 29,86 $
Spread / Average Target 27,7%
EPS Revisions
Managers and Directors
AndrÚs Ricardo Gluski Weilert President, Chief Executive Officer & Director
Stephen Coughlin Chief Financial Officer & Executive Vice President
John B. Morse Chairman
Sanjeev Addala Chief Information Digital Officer & Senior VP
Bernerd Raymond da Santos ┴vila Chief Operating Officer & Executive Vice President
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