COPENHAGEN: Denmark´s DONG Energy ended months of media speculations on Thursday when it announced plans to list on the Nasdaq Copenhagen stock exchange this summer in what could be the largest initial public offering (IPO) in Denmark ever.
The majority state-owned utility said in September it would list within 18 months and sources told Reuters on Wednesday that it would likely issue the so-called intention to float on Thursday.
Analysts have said the IPO will value the company at around 80 billion Danish crowns ($12 billion), making it the largest ever flotation in Denmark.
The IPO is expected to consist of a sale of at least 15 percent of the company´s shares, with the Danish state keeping a 50.1 percent stake in the business, DONG said on Thursday.
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