NEW YORK (AP) — Shares of NextEra Energy Partners LP are surging 30 percent in the first day of trading as a public company.
The company priced its initial public offering of approximately 16.3 million common units at $25 per unit, the upper end of the projected range of $23 to $25 per unit.
Based in Juno Beach, Florida, the company raised about $407.5 million.
The underwriters have a 30-day option to buy up to an additional 2.4 million units.
The company is a subsidiary of NextEra Energy Inc. Shares jumped $7.44 to $32.44 in Friday trading on the New York Stock Exchange
The stock is trading under the "NEP" ticker symbol.