Dong to stay private amid Scandi IPO search
State-owned Danish utility Dong said on Wednesday that it will find the new capital that it needs through a private placement of shares rather than through a revival of the IPO plan ditched in 2008. It disappointed those hoping for Scandinavian ECM issuance, with bankers in the region struggling to find more IPO candidates of sufficient size to attract investors.
Corporate issuers are instead turning to M&A and the burgeoning bond markets in Sweden, Denmark and Norway.
Dong is looking to raise more than Dkr8bn ($1.4bn) after disappointing results. Its decision not to try again with its postponed IPO is partly political but it is reflective of a
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