DONG Energy Confirms Intentions To Launch IPO

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Danish energy company and wind energy developer DONG Energy has confirmed that it intends to proceed with an Initial Public Offering.

DONG Energy has long been hinting at its plans to launch an Initial Public Offering (IPO), and the company published the results of its IPO roadmap last September, announcing at the same time that it intends to work toward a public offering and listing of its shares on Nasdaq Copenhagen before the end of Q1’2017.

Announced on Thursday, DONG Energy confirmed its intentions, and said that the offering could be listed as soon as the summer of 2016.

“Today’s announcement marks an important step in DONG Energy’s strategic journey,” said Thomas Thune Andersen, Chairman of the Board of Directors, DONG Energy.

“In just a decade, DONG Energy has transformed from being a regional utility business and one of the most coal-intensive utilities in Europe into a global leader in renewable energy. We look forward to inviting new shareholders to take part in the future ownership of the Company and to join us in our journey to build a sustainable energy system for the future.”

The Kingdom of Denmark currently owns 58.8% of the company, and intends to sell part of its current shareholding in the IPO, while maintaining a 50.1% shareholding after the company’s IPO. DONG Energy expects its IPO to consist of a sale of at least 15% of its existing shares, and no new capital will be issued in the IPO.

Only a few weeks ago, DONG Energy reported a “highly satisfactory start to the year” as it published its first quarter earnings. DONG Energy also announced earlier this month that it would begin offering renewable electricity to UK businesses at no extra cost than ‘brown energy’ sources — a move it hopes will help UK businesses make the move from dirty fossil fuels to clean renewable energy sources.

“Over the past decade, DONG Energy has established a world-leading position in offshore wind, which accounted for 75% of our capital employed at the end of 2015,” said Henrik Poulsen, CEO of DONG Energy.

“We have a robust and highly visible build-out plan for offshore wind, which will deliver strong and profitable growth in the coming years. Our focus on renewable energy has turned DONG Energy into one of the fastest growing energy groups in Europe with almost 2/3 of operating income generated outside of Denmark. The planned IPO will create a strong platform for DONG Energy as we continue to lead the transformation of the energy system.”


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Joshua S Hill

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