Enel cuts Enel Green Power IPO price to EUR 1.60 P/S- report
(ADPnews) - Oct 28, 2010 - Italian power giant Enel SpA (BIT:ENEL) has lowered the minimum price of its Enel Green Power's initial public offering (IPO) to EUR 1.60 per share from the initial range of EUR 1.80 to EUR 2.10, Reuters said Thursday, citing financial sources.
The price was already lowered from the EUR 1.90 to EUR 2.40 preliminary guidance. Enel has not confirmed the cut on the price of the IPO that closes on Friday.
Orders for the offer reached 80% on Wednesday after the 75% reported on Tuesday, supported by solid retail demand, media reported today.
Enel was trading for EUR 4.0925 with rise of 1.74% on the Milan Stock Exchange at 1605 CET on Thursday.