Over-allotments bring Dong's IPO proceeds to EUR 2.7bn
Image by Dong Energy (dongenergy.com)
Dong Energy A/S (CPH:DENERG) raised DKK 19.7 billion (USD 3bn/EUR 2.65bn) gross from its initial public offering (IPO) in Copenhagen after the over-allotment option was exercised in full.
The Danish renewables-focused utility said today it has been informed by Morgan Stanley & Co International that the over 10.9 million over-allotment shares have been sold, on top of the 72.83 million shares sold earlier this month.
The offering price for the IPO was DKK 235 per share, valuing the whole of Dong Energy at DKK 98.2 billion. The Kingdom of Denmark holds a stake of 50.4% in the company after the listing.
Dong Energy, which says it holds a 26% share of the global offshore wind capacity, started trading on Nasdaq Copenhagen on June 9. The stabilisation period has now ended, with no stabilisation transactions made.