COPENHAGEN: Danish utility and offshore wind farm operator Dong Energy on Thursday became one of Europe's biggest initial public offerings (IPOs) this year as its shares began trading on the Copenhagen bourse.
The world's largest operator of offshore wind farms sold 17.4 percent of its share capital at 235 kroner per share (31.6 euros, $36), raising 17.1 billion kroner for its owners and valuing the company at 98.2 billion kroner (13.2 billion euros, $15 billion).
Shares in the government-controlled group, which makes most of its money from wind power as well as oil and gas, were 9.8 percent higher after five minutes of trading.
"I am pleased that there has been great interest in Dong Energy among private and professional investors," Danish Finance Minister Claus Hjort Frederiksen said in a statement.
"The state's proceeds of eight billion kroner will be used to reduce our national debt and will contribute to our being able to afford welfare in the future," he added.
In 2014, the leftist Socialist People's Party exited Denmark's former centre-left government over the controversial sale of a stake in Dong Energy to US investment bank Goldman Sachs, amid claims that the bank had been given unusually favourable terms.
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