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Denmark's DONG Energy to list on Nasdaq in summer

Xinhua, May 12, 2016 Adjust font size:

Danish energy giant DONG Energy announced Thursday that it plans to go public and list on Nasdaq Copenhagen in summer this year.

"Barring unforeseen circumstances and subject to prevailing market conditions, the IPO (initial public offering) could be launched for a listing in summer 2016," the company said in a statement.

The Kingdom of Denmark, which owns 58.8 percent of DONG Energy stock, will sell part of its current shares while maintaining a 50.1 percent stake, it added.

According to Danish Minister of Finance Claus Hjort Frederiksen, the IPO has "the support of a broad majority in Parliament."

"The company has grown from primarily being a Danish utility business to become an international company with many activities outside of Denmark," Frederiksen said.

Headquartered in Fredericia, Denmark, DONG Energy is a producer, trader and distributor of energy across northern Europe. Endi