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Denmark’s DONG Energy says ready for IPO

8 January 2008 – Danish oil and gas group DONG Energy said that it is ready for an initial public offering (IPO) and a listing on the Copenhagen exchange.

Reuters reported DONG Energy saying in a statement the IPO is expected to comprise a sale of shares to Danish institutional and private investors, as well as to international institutional investors.

An IPO could value the group at up to 80bn Danish crowns ($15.78bn), analysts say.

Denmark’s Finance Ministry said in a separate statement a prospectus would be made public in the coming weeks, but did not give a more precise schedule for the listing.

Denmark, which owns about 73 per cent of DONG, plans to retain a majority holding.