NZ Super Fund unfazed by Bloom Energy's IPO pricing

Thu, 26 Jul 2018

By Paul McBeth July 26 (BusinessDesk) - The New Zealand Superannuation Fund isn't concerned that US fuel cell maker Bloom Energy is trading below what the Kiwi pension fund paid for its 2.4 percent stake, saying it's a long-term investor. California, US-based Bloom went public this week, selling shares in an initial public offering at US$15 apiece which closed at US$25, valuing the company at US$2.65 billion. The NZ Super Fund first invested in Bloom in 2013 with a US$50 million stake and followed that up the following year with a furthe...

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