Oregon-based Portland General Electric Co. intends to list its common stock on the New York Stock Exchange in April as it completes a spinoff from failed energy giant Enron.
While the shares are to be listed on the New York exchange under the stock symbol “POR” starting in April, the exact date remains to be determined, PGE said. The utility will distribute 62.5 million shares of its new stock to Enron’s creditors as part of the spinoff to enable PGE to become a stand-alone, publicly traded utility.
PGE serves more than 775,000 residential, commercial, and industrial customers in Oregon. It owns 2,000 MW of generating capacity, including more than 600 MW of hydropower.