Enel SpA (ENEL.MI) Chief Executive Fulvio Conti Thursday said the price range for the initial public offering of its Enel Green Power unit will be released Friday.
Enel SpA (ENEL.MI) Chief Executive Fulvio Conti Thursday said the price
range for the initial public offering of its Enel Green Power unit will be
released Friday.
The Italian energy company is selling a minority stake of up to 33% in its
renewable-energy unit via an IPO. Advisors say the "base case"
evaluation of the business is around EUR10.5 billion.
Conti said that he expected Enel Green Power to reinvest about 70% of its net
profit in ongoing operations and expansion while distributing 30% in dividends.
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