WASHINGTON, Aug 29, 2001 — Energy management system provider Power Measurement Inc. has filed to go public.
The Canada-based company filed for the IPO on Tuesday to raise $115 million and use the proceeds to repay all outstanding borrowing under a bank agreement, according to the Reuters News Service.
The number of shares and the price range were not disclosed in the preliminary filing.
Power Measurement seeks a Nasdaq listing under the symbol “PWRM” and a Toronto Stock Exchange listing under “PWM”.
The IPO is being handled by Salomon Smith Barney, Banc of America Securities, CIBC World Markets, Credit Suisse First Boston and Goldman Sachs.
The company provides electronic devices and software system which help consumers and suppliers improve power quality, perform real-time revenue metering and forecast power demand.