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COPENHAGEN, May 26 (Reuters) - Denmark’s DONG Energy IPO-DONG.CO on Thursday set an indicative price range for its planned initial public offering (IPO) implying a market value of 83.5 billion to 106.5 billion Danish crowns ($12.6-16.0 billion).
The state-controlled utility and wind farm developer said the offer price would be determined through a bookbuilding process from Thursday through June 8, and that the share will be traded on Copenhagen’s stock exchange from June 9.
DONG said up to 17.4 percent of its shares would be sold at the IPO, and that the Danish state would keep a 50.1 percent stake.
$1 = 6.6521 Danish crowns Reporting by Teis Jensen; editing by Jason Neely