FRANKFURT Oct 5 German power utility RWE
is expected to price the initial public offering of
its renewables, network and retail business Innogy at
the upper end of the price range, it said on Wednesday.
Investors have been guided to prepare for a price of 35-36
euros per share, Germany's second-largest utility said,
confirming a Reuters report.
RWE said last month that Innogy will issue 55.6 million of
new shares while parent RWE aims to sell as many as 83.3 million
existing shares at a price of between 32 and 36 euros apiece.
(Reporting by Arno Schuetze and Christoph Steitz; Editing by
Georgina Prodhan and Edward Taylor)