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29.10.2010 11:18
© enel.it
Within the framework of the initial public offering of Enel Green Power (“EGP”) shares, Enel S.p.A. (“Enel”), in agreement with the Joint Global Coordinators and Joint Bookrunners and maintaining the indicative price range between a non-binding minimum of 1.80 euros per share and a binding maximum of 2.10 euros per share (the latter being equal to the maximum placement price), has decided to consider expressions of interest starting from a price of 1.60 euros per share in order to improve the valuation of such a key asset as EGP, the Enel presscenter stated today.
In keeping with its long-standing consideration for the market, Enel has thus sought to leverage the trust that the many small shareholders in Italy and Spain have shown the Company, having to date submitted applications for a very significant number of EGP shares being offered.
This decision is expected to enable EGP to achieve a better balance between retail shareholders and institutional investors, thereby stabilizing the value of the shares and enhancing the liquidity of the stock, using a transparent approach that fully respects the signals received from the market, creating even more value for all shareholders.
Please note that the final price at which the EGP shares will be placed – which cannot exceed the maximum placement price stated above and which will be the same for both the public offering and the offering for institutional investors – will be set by Enel in consultation with the Global Coordinators and the Joint Bookrunners only after the offer period has ended and will be announced to the markets as provided for in the prospectus.
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