Newspaper article International New York Times

Dong Energy Valued at $15 Billion in Danish I.P.O

Newspaper article International New York Times

Dong Energy Valued at $15 Billion in Danish I.P.O

Article excerpt

The debut of the Danish utility and offshore wind energy operator is the largest initial public offering in Europe this year.

Dong Energy, the Danish utility and the world's largest offshore wind energy operator, said on Thursday that it was valued at 98.2 billion Danish kroner, or about $15 billion, in its initial public offering in Copenhagen.

The share sale is the largest initial public offering in Europe this year.

Dong Energy said that it had priced its offering of 72.8 million shares on Nasdaq in Copenhagen at 235 kroner a share, at the upper end of its expected range.

Shares of Dong Energy rose 9 percent in trading in Copenhagen on Thursday morning.

The company unveiled plans in May to list its shares, after saying in September that it would pursue an offering after a review. …

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