Dong Energy plans summer IPO launch

Danish energy giant Dong Energy is looking to launch an Initial Public Offering of its shares on Nasdaq Copenhagen. The company expects the IPO could be launched in the summer 2016.

The Kingdom of Denmark, as majority shareholder, will sell part of its current shareholding in the IPO, while maintaining a 50.1% shareholding in DONG Energy after the IPO. The intended IPO is expected to consist of a sale of at least 15 per cent of the existing shares in the Company through a partial sell-down by the current shareholders of DONG Energy other than employee shareholders.

As for the final offer size, Dong Energy said it will be communicated in connection with the publication of the prospectus by the company. No new share capital will be issued in the IPO.

The energy company is currently owned by the Kingdom of Denmark (58.8%), New Energy Investment S.à r.l. (indirectly owned by entities under the control of the Merchant Banking Division of The Goldman Sachs Group, Inc.) (17.9%), SEAS-NVE Holding A/S (which is directly controlled by SEAS-NVE A.M.B.A) (10.8%), ATP (4.9%) and other shareholders (7.6%).

Dong Energy, famous for its offshore wind business, also has a portfolio of producing oil and assets in Denmark, Norway and the UK. The oil and gas business is being managed for cash, which will be reinvested in renewable energy, the company said in a statement on Thursday.

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