PE-backed Seven Generations raises $931.5 mln from IPO

Seven Generations Energy Ltd has closed its previously announced initial public offering (IPO), raising aggregate gross proceeds of $931.5 million, exceeding its target of $810 million. The Calgary-based company is now listed on the Toronto Stock Exchange under the symbol "VII". Seven Generations is focused on a liquids-rich natural gas property in northwest Alberta. Its leading private equity investors are ARC Financial Corp and KERN Partners, which were among its backers at the time of the company's founding in 2008, and Canada Pension Plan Investment Board (CPPIB), which invested at a later date.

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