Dong Picks Banks for IPO

Dong Energy’s committee for the initial public offering (IPO) has chosen JP Morgan Securities, Morgan Stanley, and Nordea Markets, a division of Nordea Bank Denmark, to manage the company’s planned IPO, Denmark’s Ministry of Finance reports.

The IPO is expected within the next 15 months, and is projected to value the company at between DKK 50 and 70 billion (EUR 6.7bn – 9.4bn).

Citigroup Global Markets Limited, Danish Bank and UBS Limited were chosen to serve as joint bookrunners.

”Banks were selected by a detailed procedure in which a number of banks has been invited to compete to participate in the process with the possibility of being elected,” the Ministry said in a statement.

Dong announced plans to pursue the IPO back in September.

Offshore WIND Staff