“Innogy to become most valuable utility”
The stock market launch of innogy could make RWE’s green subsidiary Germany’s most valuable utility, writes Antje Höning in Rheinische Post. If the stock price of 36 euros - determined by auction - remains unchanged, innogy will be worth around 20 billion euros at tomorrow’s launch, according to Höning. The spin-off that takes over RWE’s renewables, grids and retail operations, would then be worth more than twice as much as its parent company, currently valued at around nine billion euros. Innogy’s popularity with investors could thus become a “lifebuoy” for financially stricken RWE, which is already floating more shares of its subsidiary than initially planned, writes Höning.
Read the article in German here.
For background information read the CLEW-Factsheet on RWE’s plans for new renewable subsidiary.