Acciona aims to value energy unit at up to $10.8 billion in IPO
Acciona aims to value energy unit at up to $10.8 billion in IPO
(Reuters) – Spain’s Acciona said on Monday it was targeting the lower end of an original price range for a listing which is set to value its renewable energy unit at up to 9.05 billion euros ($10.80 billion).
Acciona decided to trim the price at which it will sell shares in its most profitable unit to 26.73-27.50 euros per share, from an initial range of 26.73-29.76 euros.
Acciona Energia is due to start trading on the Madrid stock market on July 1, in one of the biggest listings in a record year so far in Europe. Order books close on June 29.