Capital Power C$500mln IPO targets global investors

* Shares marketed to Canadian, U.S., Europe clients

* To sell at least 21.750 mln shares at C$23 each

By Pav Jordan

TORONTO, June 29 (Reuters) - Canada's largest IPO of the year launches next month, creating the second-largest pure-play power company in the country and signaling a rebirth in the nearly moribund Canadian IPO market.

An initial public offering by Capital Power Corp (CPX.TO) is being marketed to investors in Canada, the United States and Europe, and is expected to close on July 9, when the issue will start regular trading on the Toronto Stock Exchange.

"Geographically, (the marketing is) Canada first and then Europe, and the United States as well, but on the U.S. side on an institutional basis," said Martin Kennedy, a spokesman for Epcor Utilities Inc, the municipally owned utility that is spinning off its C$5 billion ($4.3 billion) power generation assets to form the company.

If successful, the IPO would be the biggest this year in Canada and support forecasts that the market for global initial public offerings is starting to perk up.

Kennedy would not comment on the status of the IPO because it has yet to close.

According to filings with local regulators, the company aims to sell at least 21.75 million common shares at C$23 each, generating some C$500.25 million before deducting the cost of the offering.