FRANKFURT Oct 6 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
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)