The Danish government has picked J.P. Morgan Securities, Morgan Stanley and Nordea Markets to help manage the planned initial public offering (IPO) of utility company Dong Energy. Dong Energy, Europe's largest offshore wind farm developer, said in September it intended to pursue an IPO within 18 months. Analysts expect the IPO will value the company at 50-70 billion Danish crowns ($7.1-$9.9 billion), making it the largest ever flotation in Denmark. "The banks are selected after a detailed procedure in which a number of banks have been invited to compete to participate in the process," the finance ministry wrote on its web page.