Thursday, November 4, 2010

Enel Green Power

Enel Green Power will begin trading today on the stock exchange of Milan and Madrid at nine o'clock. It is an unusual hour for IPOs in Spain as they usually start at 12 in the morning. They will begin trading at this time in order to coincide with Milan and Madrid. Finally, the subsidiary "green" Enel will bring at 32.5% of its capital, after the underwriters have decided to exercise their right of "green shoe" and have been encouraged to buy 210 million shares, an amount equal to 4.2%. Of that 32.5% of the capital, retailers and private investors have bought 28.3%.The company will begin trading at 1.6 euros per share.

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