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Innogy expected to price IPO at 36 eur per share
October 6, 2016 / 9:51 AM / a year ago

Innogy expected to price IPO at 36 eur per share

FRANKFURT, Oct 6 (Reuters) - German power utility RWE is expected to price the initial public offering of its renewables, network and retail business Innogy at the top end of the price range, Innogy said on Thursday.

The shares will likely be sold at 36 euros apiece, a spokeswoman for Innogy said, confirming an earlier Reuters report.

On Wednesday, RWE had guided to expect a final price of 35-36 euros per share.

RWE, Germany’s second-largest utility, 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, Alexander Hübner and Tom Kaeckenhoff; Editing by Maria Sheahan)

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