Danish firm DONG Energy has announced plans to launch an Initial Public Offering (IPO) of its shares on Nasdaq Copenhagen.
The IPO, which could be launched for a listing this summer, is expected to consist of a sale of at least 15% of existing shares in the company through a partial sell-down by the firm’s current shareholders.
If the IPO is a success, the Danish utility expects to pay a dividend of DKK 2.5 billion (0.27bn) for the financial year of 2016.
Henrik Poulsen, CEO of DONG Energy said: “Over the past decade, DONG Energy has established a world leading position in offshore wind, which accounted for 75% of our capital employed at the end of 2015. We have a robust and highly visible build-out plan for offshore wind, which will deliver strong and profitable growth in the coming years.
“Our focus on renewable energy has turned DONG Energy into one of the fastest growing energy groups in Europe with almost 2/3 of operating income generated outside of Denmark. The planned IPO will create a strong platform for DONG Energy as we continue to lead the transformation of the energy system.”
Earlier this month the firm also announced new plans to encourage UK businesses to use clean energy sources at “brown” prices.