IPO Results Value DONG at EUR 13.2 Billion

DONG Energy has announced the results of its Initial Public Offering (IPO) through which 17.4% of the company’s shares have been allocated to more than 36,000 new investors at the final offer price of DKK 235 (EUR 31.6), leading to a market capitalisation of the company of DKK 98.2 billion (EUR 13.2 bn). 

The admission to trading and official listing of the company’s shares on Nasdaq Copenhagen took place on Thursday, 9 June, at 9 AM CET. Measured in market capitalization, DONG Energy is the largest company to be admitted to trading in the Nordics since 2000, Nasdaq Copenhagen said.

Thomas Thune Andersen, Chairman of DONG Energy, said: “It’s a privilege to welcome all new shareholders, both the professional investors and the many Danish private investors. I see it as a vote of confidence in the management and the many talented and dedicated employees, who persistently strive to make DONG Energy a world-leading renewable energy company. I’m looking forward to continuing the development of the company with our new and existing shareholders.”

The offer shares have been admitted to trading and official listing on Nasdaq Copenhagen under the symbol “DENERG”.

The shares are expected to be delivered on or around 13 June against payment in immediately available funds in DKK.

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 will 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.

“I’m pleased with the positive feedback received from investors all around the world and the trust they have shown us by becoming shareholders in DONG Energy. We’ll work hard to deliver on their expectations as we continue to lead the transition to a more sustainable energy system. All DONG Energy employees should take pride in having built one of the fastest growing, greenest, and most innovative energy groups in Europe,” Henrik Poulsen, CEO of DONG Energy, said.

The current shareholders of DONG are the Kingdom of Denmark (58.8%), New Energy Investment S.à r.l. (17.9%), SEAS-NVE Holding A/S (10.8%), ATP (4.9%) and other shareholders (7.6%).

Following the IPO, The Kingdom of Denmark will hold 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%.

“As a representative of the majority shareholder I’m pleased to see that there has been a lot of interest in becoming part of the ownership of DONG Energy – both among retail and professional investors. It gives DONG Energy a solid foundation to retain and develop its position as one of the leading green energy companies in the world. Recognition goes to the management and employees, for all of their hard work in connection with the IPO,” Claus Hjort Frederiksen, Danish Minister of Finance, said.

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