Enel Green Power | the largest IPO since 2007

World & Business - Finance

Tuesday, 26 October 2010 01:10

Enel Green Power is the largest IPO since 2007. Enel will give away one share for every 20 to loyal investors. Define, Enel Green Power, the largest IPO since 2007. In case of excessive demand, stocks will begin to be awarded in alphabetical order beginning with the letter E, Enel .

Enel Green Power belongs to the group Enel is Italy's largest power company and the third largest in Europe. Enel Green Power was founded in 2008 for the generation and management of renewable energy. The company operates in four continents, focusing on energy as:

Solar Energy

Hydropower

Geothermal Energy

Wind Energy

Biomass

Enel is active in Europe in Italy where he is leading in three of the four renewable energy, solar, hydroelectric and geothermal energy. Enel Group is present in 40 countries, has 95.000MW of net power and supplies electricity and gas to over 61 million customers. Ene l is the owner of Endesa.

In Spain, Greece and France are trying to increase the capacity to generate wind and solar energy. It has projects around the world, Canada, United States, Central and South America.

Enel has set the price of admission to trading of Enel Green Power between 1.8 and 2, 1 euro per share.

This values the company between 9,000 and 10,500 million euros. The purpose of Enel is to capture up to 2971.5 million Euros. This would enable Enel Green Power finance growth while reducing debt Enel.

Enel allocated only 2.5% of its offer to the Spanish investors, who may spend between 2,000 and 60,000 euros.

In the prospectus of the Green Power Elen operation provides an incentive to encourage the small investor the gift of one share for every 20 allocated, to remain in the portfolio for 12 months after departure. A maximum of Enel Green Power will provide 300 free shares to each investor.

Anecdotally, in case of excessive demand and the hypothetical extension of the offer without enough be awarded shares in alphabetical order starting with the letter E.

If the demand is excessive and the hypothetical extension of the offer were not enough to assign all the minimum, be awarded shares in alphabetical order from E (the first letter of the company).

The prospectus for the transaction provides an incentive for small Spanish investors the gift of one share for every 20 allocated in placement to remain in the portfolio during the 12 months following the IPO. At most, Enel Green Power will provide 300 free shares to each investor, so that full benefit of this incentive those who subscribe to 6,000 shares (approximately 12,000 euros) in the tender offer.

Enel Green Power and others as listed in Milan and New York since 1999. Enel now goes public in the largest IPO since 2007