Enea gets by with a little help from its friends

The disappointing IPO of Enea highlights the dire state of Europe’s IPO market with the deal size cut by one third when the IPO priced on Monday, and proceeds amounting to Zl 2bn ($724m). Credit Suisse and BZ WBK priced the offer at a discount of 20% to the bottom of the range after initially cutting the minimum size by around 11%. Even after that, the Enea deal was only rescued after Swedish power company Vattenfall and the EBRD supported the transaction.

  • 05 Nov 2008

Robert Vielhaber, +44 20 7440 6042

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