New York • Shares of Pattern Energy are on the rise after the wind power company raised more than $300 million in its initial public offering.
The 16 million shares priced $22 per share Friday, which is above expectations. The company expects $318.6 million in proceeds after expenses and underwriting discounts.
Shares of Pattern Energy Group Inc. rose $1.15, or 5.2 percent, to $23.15. The shares are trading on the Nasdaq Global Market under the ticker symbol "PEGI."