DONG Energy Wraps Up IPO

DONG Energy’s admittance to trading and official listing of its shares on Nasdaq Copenhagen has today become unconditional after the selling  shareholders and underwriters invoked no termination or withdrawal rights pertaining to the Initial Public Offering launched on 9 June.

Accordingly, the IPO has today proceeded to completion and the offer shares, other than the shares comprised by the overallotment option granted to the underwriters, have been allocated to investors.

DONG has welcomed more than 36,000 new investors via the IPO who bought 17.4% of the company’s shares at the final offer price of DKK 235 (EUR 31.6).

The selling shareholders, other than the Kingdom of Denmark and SEAS-NVE Holding A/S, have granted the managers an overallotment option of an additional 10,925,159 shares, equal to 15% of the final number of shares sold in the IPO, excluding any shares comprised by the overallotment option. The overallotment option is exercisable in whole or in part until 8 July 2016.

The gross proceeds from the IPO are expected to amount to DKK 17.1 bn assuming no exercise of the overallotment option, and DKK 19.7 bn assuming full exercise of the overallotment option.

Following the IPO, the Kingdom of Denmark holds 50.4% of the company’s shares, New Energy Investment S.à.r.l. 14.7%, SEAS-NVE Holding A/S 9.6%, ATP 4.0%, new investors 17.4%, and others 3.9%.

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