NexGen IPO is today
NexGen [XG 1.68] [link] will hit the open market today for the first time after a successful IPO offer period. XG is a renewable energy subsidiary of Dexter Tiu’s Pure Energy Holdings and is a sister company of Repower Energy Development [REDC 5.50, up 6.0%; 789% avgVol]. Reports indicate that demand was strong enough for XG’s IPO stock to require exercise of the over-allotment option to satisfy subscription applications, but there was no indication that demand exceeded the over-allotment amount. XG will begin trading this morning with a stabilization fund that will run through August 15.