Valuation under scrutiny as Eu3bn Enel sets out on road
Two teams of executives from Enel Green Power, three joint global-coordinators, seven more joint bookrunners and a further 17 banks and brokerages in the junior syndicate went on the road this week, marketing Europe’s biggest initial public offer since 2007.
However, the deal has a narrow price range which, even at the bottom end, puts a higher value on the firm than some of the sponsoring banks analysts.
Enel is selling 1.415bn Enel Green Power (EGP), shares in the base deal, or 28.3% of the firms 5bn shares, before
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