| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Cogen Technologies, Inc. |
| 711 Louisiana, 33rd Sloor, Houston, TX 77002 * (713) 336-7700 |
| The company is engaged in the development, ownership, operation, acquisition and financing of power generation facilities and the sale of electricity and steam in the United States. |
| Manager | Tier | Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| NYSE: | CGT | Utilities: | SIC 4911 | |
| Type of Shares: | Common Shares | Filing Date: | 5/26/98 | |
| U.S. Shares Filed: | 33,300,000 | Filing Price: | - | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $500,000,000 | |
| Primary Shares: | 0 | Expenses: | - | |
| Secondary Shares: | 33,300,000 | Post-IPO Shares: | 44,900,000 |
| Issuer's Law Firm: | Fulbright & Jaworski |
| Bank's Law Firm: | Skadden, Arps, Slate, Meagher & Flom |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $108.90 | Assets: | $284.80 | ||
| Net Income: | $49.10 | Curr Assets: | $22.40 | ||
| EPS: | $1.09 | Liabilities: | $264.40 | ||
| Prior EPS: | Curr Liab: | $27.20 | |||
| Cash Flow/Oper: | $67.40 | Equity: | $20.40 | ||
| Cash Flow/Fin: | $18.90 | Cash: | $18.90 | ||
| Cash Flow/Inv: | $7.80 | Working Cap: | -$4.80 | ||
| Competition |
| The power generation industry is characterized by numerous strong and capable competitors, including utilities, industrial companies and other power producers. Many of these competitors have extensive and diversified developmental or operating experience and financial resources equal to or greater than those of the Company. Further, in recent years the power production industry has been characterized by strong and increasing competition with respect to both obtaining power sales agreements and acquiring existing power generation assets. This competition has generally resulted in reductions in prices paid for electricity, including reductions in prices in new power sales agreements where available, and reduced operating margins for merchant power plants which sell their power into the wholesale market without long-term contracts. Similarly, such competition has caused higher acquisition prices in some instances for existing assets through competitive bidding practices. |
| Business Plan |
| The Company's strategy is to maximize cashflow associated with its power plants, and to grow through expansion of the Company's existing operations and through the acquisition and development of existing or new power generation and related facilities. Specific aspects of this strategy are set-forth below: (I) Maximize the Value of Existing Assets, (ii) Expand Existing Plants and (iii) Pursue Domestic Electricity Generation Acquisitions and Other Opportunities. |
| Use of Proceeds |
| The proceeds from the proposed offering will be distributed to selling shareholders. |