Wednesday, May 21, 2008

Jefferies eyes clean-tech IPOs later this year

From MarketWatch:

Bankers at Jefferies Group on Wednesday forecast an improved deal pipeline for initial public offerings for companies in the business of reducing the world's carbon emissions and fossil-fuel consumption, following a dry spell in the first quarter.

Two IPOs from biodiesel companies Imperium Renewables and Renewable Energy Group pulled their deals off the calendar earlier this year, in the face of withering overall market conditions.
The so-called clean-technology sector holds hope for fresh deals later in 2008, as Wall Street grapples with the fate of subsidies for wind and solar, record oil prices and ongoing concerns about greenhouse gases.

"The backlog is starting to build," according to Jeff Lipton, managing director, head of North American clean-tech banking for Jefferies....MORE