Enel kicked off the share offering with a road show in Milan on 18 October. It will be completed by 28 October, with EGP shares debuting on the Madrid and Milan stock markets on 4 November.

EGP has been valued at between €9bn and €10.5bn by Enel which hopes to sell up to 32.5% of the company if in stitutional investors like banks take up a so-called “greenshoe” option for 15% of the issue.

Enel