London-Denmark’s state-controlled DONG Energy said Thursday it has completed its much-anticipated initial public offering, selling shares equivalent to 17.4% in the company. DONG-which has transformed over the past 10 years from a coal-intensive Danish utility into an international, renewables focused energy company-said the final offer price for the shares was DKr235, valuing the company at DKr98.2 billion, or around $15 billion. The IPO comes at a difficult time for energy companies, with commodity prices firmly in the doldrums.
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