Editor’s note: This article was first published in October 2010, before the IPO, and its details, including Enel owning 92% of Endesa, the planned November 2010 listing, the 1.80-2.10 euro price range and the retail investor limits, are forecasts or figures as of 2010. The final IPO terms and the company’s later history are not reflected.
You’ve probably seen the public offering from Enel Green Power. For those unfamiliar with the company, Enel owns 92% of Endesa and is going to float 30% of the capital of its renewable energy subsidiary on the stock market.
Enel Green Power is one of the largest renewable energy operators in the world. Its IPO is scheduled for the first half of November 2010, and it expects to raise more than 3,000 million euros.
The shares will be issued as part of the public offering and will be listed on the Madrid and Milan stock exchanges.
Enel Green Power expects to pay out dividends of around 30% of its profits during its first year as a listed company.
85% of the offering will go to institutional investors and the remaining 15% to the retail market.
Enel Green Power currently has more than 600 plants, plus a number of imminent projects, across the more than 15 markets where it operates.
The share price is expected to be around €1.80–2.10. Spanish investors will be able to apply for a minimum of €2,000 and a maximum of €60,000 worth of shares.
We have no doubt that investing in Enel Green Power shares is a profitable investment, both in the short and the long term, if we take advantage of the IPO. In fact, most investors are eagerly awaiting this opportunity, and traders already have their algorithms ready to make money during the first week after the listing.
Further reading
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