ECP — backed ProEnergy to seek up to $50 billion valuation in US IPO, Bloomberg News reports

Sept 18 (Reuters) — Energy Capital Partners-backed ProEnergy is seeking a valuation of as much as $50 billion in a US initial public offering, Bloomberg News reported on Friday, citing people familiar with the matter. Here are some additional details: The IPO could value ProEnergy, which makes power generation equipment, at around $40 billion to $50 billion, depending on the market, the report said, adding that ECP could also consider selling ProEnergy. ECP acquired a majority stake in ProEnergy in September 2024. The Missouri-headquartered firm is working with Morgan Stanley and JPMorgan Chase on the IPO process, the report said. ECP declined to comment, while ProEnergy, Morgan Stanley and JPMorgan did not immediately respond to Reuters' requests for comment outside regular business hours. (Reporting by Nethra Sailesh, Preetika Parashuraman in Bengaluru. Editing by Alan Barona) ((Nethra.Sailesh@thomsonreuters.com)