BBI currently owns 50% of Babcock & Brown Wind Partners (BBWP), which has stakes in 15 wind farms across Europe, the US and Australia.

According to Dow Jones, BBI lodged a prospectus with the Australian Securities & Investment Commission that said 258 million new stapled securities would be offered to raise $A361 million.

In addition, the submission also said BBWP reserved the right to accept oversubscriptions to raise a further $A35 million.

Assuming no oversubscriptions are made, Dow Jones said the market capitalisation of BBWP, at the $A1.40 offer price, will be $A657 million, following the expected October 28 listing.

BBI's share of BBWP will fall to 17.5%, with parent Babcock & Brown's share declining to 15% from 17.5%.