Dong closes IPO a day early

DENMARK: Developer Dong Energy has closed its initial public offering to some retail investors a day earlier than expected due to high demand.

by David Weston 7 June 2016

Dong Energy CEO Henrik Poulsen

Dong said the offering to retail investors with orders worth up to DKK 3 million (€400,000) would close on 7 June at 4pm Central European Time (CET).

"The early close of the offering is due to the aggregate demand from retail investors exceeding the
expected allocation of offer shares to this investor group," Dong said. 

The offering to investors with orders over DKK 3 million will close on 8 June at 11am CET. Dong had initailly said the offer would close to investors "no later than 4pm CET on 8 June". 

The indicative price range of DKK 200-255 (€26.89 - 34.29) per share was set at the end of May. 

Dong will be listed on the Nasdaq Copenhagen stock exchange under the symbol 'DENERG'. The first day of trading is still expected to be 9 June.