Ormat Plans to Seek Multiple International Listings
RENO, Nev. -- Ormat Technologies, Inc. (NYSE: ORA) announced today that in connection with the pending transaction, the corporation's board of directors approved a decision to list its shares on two international stock exchanges, in addition to its current listing on the New York Stock Exchange (NYSE), one of which will be the Tel Aviv Stock Exchange (“TASE”).
“As Ormat Technologies works to complete its acquisition of its parent entity, Ormat Industries, through a share exchange and consolidate into a more, streamlined organizational structure, the additional listings will further our goals of increasing liquidity and attracting a broader investor base” said Ormat CEO Isaac Angel.
The corporation expects to initiate the listing process at the earliest possible time taking into account regulatory and practical considerations.
About Ormat Technologies, Inc.
With over four decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company solely engaged in geothermal and recovered energy generation (REG). The company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter - a power generation unit that converts low-, medium- and high-temperature heat into electricity. With over 77 U.S. patents, Ormat’s power solutions have been refined and perfected under the most grueling environmental conditions. Ormat has 480 employees in the United States and about 640 overseas. Ormat’s flexible, modular solutions for geothermal power and REG are ideal for the vast range of resource characteristics. The company has engineered, manufactured and constructed power plants, which it currently owns or has installed to utilities and developers worldwide, totaling over 1,900 MW of gross capacity. Ormat’s current generating portfolio of 626 MW (net) is spread globally in the U.S., Guatemala and Kenya.
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