Enel Uses Dividend to Sell Largest IPO Since 2007
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Enel Green Power SpA will kick off Europe’s biggest initial public offering since 2007 next week, aiming to attract investors by offering dividends that are above average for the renewable energy industry.
The company will set a price range for the IPO before taking orders for the stock on Oct. 18, according to four people with knowledge of the matter. Enel SpA, Italy’s biggest utility, plans to raise at least 3 billion euros ($4.2 billion) by selling a 30 percent stake in its alternative energy unit, Chief Executive Officer Fulvio Conti has said.