innogy SE (ISIN: DE000A2AADD2) was listed in the Prime Standard of the Frankfurt Stock Exchange today. The listing involved admission to trading of around 555.6 million shares in total.
The total issue volume was approximately €5.0 billion, making it the largest IPO this year.
Carsten Kengeter, CEO of Deutsche Börse, said, “The volatile market environment in 2016 has led to great restraint in IPOs around the world.
The IPO of innogy SE proves that capital markets are an excellent financing option for companies.
It is encouraging to see that IPOs are possible in Germany even in a difficult market environment.”
Hauke Stars, member of the Executive Board of Deutsche Börse responsible for the Cash Market, Pre-IPO & Growth Financing segment, added, “We welcome innogy SE, the largest IPO of the year, at the Frankfurt Stock Exchange. Frankfurt remains one of the most attractive listing venues in Europe, providing access to international investors and new capital for German and European companies.”
The initial listing price was €37.30; the issue price €36.00.
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The joint global coordinators were Deutsche Bank and Goldman Sachs International, which are also designated sponsors for Xetra trading. As joint bookrunners, the two institutions were joined by BNP Paribas, BofA Merrill Lynch, Credit Suisse and UBS Investment Bank.
Banco Santander S.A., Joh.
Berenberg, Gossler & Co. KG and RBC were co-lead managers.
innogy SE is a European energy company with three business segments, Grid & Infrastructure, Retail and Renewables.
The key markets are Germany, the United Kingdom, the Netherlands and Belgium as well as several countries in Central Eastern and South Eastern Europe, especially the Czech Republic, Hungary and Poland. In renewable power generation, the company is also active in other regions, such as Spain and Italy. The subsidiary of RWE AG started operations on 1 April 2016.
The company is expected to employ around 40,000 out of a total of around 60,000 employees of the RWE Group once the restructuring process has been completed. The innogy brand name is a symbiosis of the terms innovation, energy and technology.