“innogy IPO about to enter final stage”
German utility RWE and its subsidiary innogy have determined the price range for shares of innogy SE in the Initial Public Offering (IPO) to range from 32 euros to 36 euros. Innogy would be valued between 17.8 billion and 20 billion euros and RWE will remain the majority shareholder with 75-82 percent of shares, the companies wrote in a press release. With a total of about 101 million shares to be placed, innogy could receive gross proceeds from the IPO of between 1.8 billion and 2 billion euros, while RWE could receive between 1.5 billion and 1.6 billion euros. “In our talks with institutional investors and analysts we were met with significant interest in innogy shares, which reinforces our assessment,” said Peter Terium, chief executive officer of RWE and innogy.
Find the relevant press releases by innogy in English here.
Also read the CLEW factsheet RWE’s plans for new renewable subsidiary for background.