Tuesday, July 14th 2026 - 22:31 UTC
YPF Luz, which has operated since 2013, presents itself as Argentina's largest independent power generator by installed capacity
Argentine power generator YPF Luz has filed a preliminary prospectus with the US Securities and Exchange Commission (SEC) for a potential initial public offering of shares, which would list simultaneously on the New York Stock Exchange and on Bolsas y Mercados Argentinos (BYMA) in Buenos Aires.
The company clarified that this is a first formal step, subject to regulatory approval and market conditions, and that the registration statement is not yet effective, so no securities can be sold for now. According to the prospectus, the shares would list in New York as American Depositary Shares under the symbol “YLUZ,” with each unit representing ten Class B ordinary shares. The global coordinators of the offering are Goldman Sachs, BofA Securities and Citigroup.
The offering corresponds to the stake held by BNR Power Investments, a company owned in equal parts by US firm GE Vernova and China's state investment fund Silk Road Fund, which holds 24.99% of the capital and is divesting its holding. Once the operation is completed, the oil company YPF — currently the holder of 75.01% — would remain as the sole controlling shareholder. The company warned in the prospectus that, in that capacity, YPF's interests could differ from those of the other shareholders.
