The Danish government has announced the banks selected to help manage the initial public offering of Dong Energy, Europe’s biggest offshore wind farm developer.
JP Morgan Securities, Morgan Stanley and Nordea Markets have been chosen to oversee what is expected to be the biggest IPO ever from a Danish company.
Dong Energy said in September it expects the IPO to go ahead within 18 months.
Analysts expect the IPO to value the company between 50-70bn Danish Kroner, equivalent to $7.1-$7.9bn.
In a statement published on its website the Danish finance ministry said: “The banks are selected after a detailed procedure in which a number of banks have been invited to compete to participate in the process.”
Citigroup Global Markets, Danske Bank and UBS have been selected as joint bookrunners.
The government sold 18% of Dong to a group of investors led by Goldman Sachs in January last year.
Image: Offshore substation (Dong)
