Enerjisa IPO Values Company at EUR1.58 Billion
By Alberto Delclaux
Germany's E.ON SE (EOAN.XE) said Monday that the public offering for part of its Turkish joint venture Enerjisa Enerji AS had been set at an offer price of 6.25 Turkish lira ($1.66) per lot of 100 shares, valuing the whole company at 1.58 billion euros ($1.97 billion).
Enerjisa is an energy distribution and retail company, owned in equal parts by E.ON and Turkish conglomerate Haci Omer Sabanci Holding AS (SAHOL.IS). Through the offering the two companies are selling a combined 20% of Enerjisa.
The offer was oversubscribed by 4.8 times as a result of strong demand, E.ON said.
Trading of the stock is expected to begin on the Istanbul stock exchange on Feb. 8, E.ON said.
Write to Alberto Delclaux at firstname.lastname@example.org
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February 05, 2018 03:38 ET (08:38 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.