Dong Energy is intending to pursue an initial public offering within 18 months, subject to market conditions.
The Danish company announced last week it will initiate the preparations “to allow the IPO to take place as soon as possible.”
Dong Energy will continue to strengthen its position with a diversified renewables portfolio based on leading competences in offshore wind and biomass, as well as distribution and sales anchored in Dong Energy’s Danish home market.
Due to significant drop in oil prices over the past 12 months “a business program has been initiated to adapt the E&P business to the new market reality.”
Furthermore, Dong will undertake a full strategic review of the E&P business to decide how to best position the business going forward.