DONG Energy Launches Largest IPO This Year
Danish wind energy giant DONG Energy has launched the largest Initial Public Offering so far this year, with shares jumping 10% during the company’s opening hours of trading.
DONG Energy has long been hinting at an Initial Public Offering (IPO), and in May announced its official intention to proceed, suggesting that it could move as early as this summer. Adhering almost to the letter of its hints, DONG Energy launched its IPO on Thursday, pricing its shares at DKK 235 per share. However, in early trading that number jumped 10% to DKK 259 per share, valuing the group at DKK 108 billion ($16.5 billion), making it the largest IPO so far this year.
“I’m pleased with the positive feedback received from investors all around the world and the trust they have shown us by becoming shareholders in DONG Energy,” said Henrik Poulsen, CEO of DONG Energy. “We’ll work hard to deliver on their expectations as we continue to lead the transition to a more sustainable energy system. All DONG Energy employees should take pride in having built one of the fastest growing, greenest, and most innovative energy groups in Europe.”
“As a representative of the majority shareholder, I’m pleased to see that there has been a lot of interest in becoming part of the ownership of Dong Energy, both among retail and professional investors,” said Claus Hjort Frederiksen, Denmark’s finance minister. “It gives Dong Energy a solid foundation to retain and develop its position as one of the leading green energy companies in the world.”
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