Enel Green Power Sets IPO Range

摘要

Italy's Enel, Europe's second biggest utility by installed capacity, has set a share price range of ?1.80-?2.10 ($2.50-$3) per share for its up- coming sale of roughly 33% of its green energy business unit, Enel Green Power (EGP). The initial public offering will be one of the biggest in Europe in recent years and the largest since 2007, when Spain's Iberdrola Renovables, the green arm of Iberdrola, raised ?4.1 billion. It could land parent Enel up to ?3.5 billion if investors buy shares at the top end of the range, valuing the company at roughly ?10.5 billion. EGP shares will be list- ed on the Italian and Spanish stock markets.