The IPO values Innogy at about €20bn, way more than RWE’s own market capitalisation. RWE will receive proceeds of around €3bn, while €2bn is earmarked for “future-oriented” investments at Innogy.
RWE has placed about 25% of Innogy on the stock market, and remains majority shareholder, as it sold 138.9m Innogy shares among new investors, with 10% of the shares coming from a capital increase, and the remainder from RWE’s shareholdings, a greenshoe placement and overallotment.
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