DONG Energy will close initial public offering (IPO) to retail investors with orders up to and including DKK 3 million on 7 June at 4 PM CET, one day earlier than initially planned ”due to the aggregate demand from retail investors exceeding the expected allocation of offer shares to this investor group.”
The IPO to investors with orders exceeding DKK 3 million will close on 8 June 2016 at 11 AM CET.
Information about the result of the IPO, including final offer price, the final number of sold offer shares and the allocation of shares, is expected to be announced on 9 June.
The admission to trading and official listing of the DONG Energy shares on Nasdaq Copenhagen and the first day of trading is also expected to be on 9 June.
The offer shares are expected to be delivered starting on or about 13 June against payment in immediately available funds in Danish kroner.
DONG will offer up to 17.4% of its shares via the IPO. The share indicative prince range was initially set at DKK 200 to DKK 255 per share.
The minimum price target was reportedly raised to DKK 220 due to the shares being overly under-subscribed in the low end.