EDP Renovaveis to enter PSI 20 as fifth largest stock by market cap UPDATE
06.02.08, 2:59 PM ET
(Updates with geographical distribution of the institutional tranche of offer)
LISBON (Thomson Financial) - EDP Energias de Portugal SA's EDP Renovaveis unit will enter the NYSE Euronext (nyse: NYX - news - people ) Lisbon's select PSI 20 index as the fifth largest stock by market capitalisation on July 1, Euronext Lisbon chairman Miguel Athayde Marques said at the presentation ahead of the renewable energy company's stock market debut on Wednesday.
In a presentation of the results of the IPO, Euronext Lisbon said that 14 percent of the institutional tranche of the offer, covering 20 percent of EDP Renovaveis share capital, went to U.S. investors, 26 percent to UK investors, 28 percent to Portuguese institutions and 32 percent to those in the rest of the European Union.
This morning, EDP Renovaveis said it has set the final subscription price for its IPO at 8.00 euros per share, raising 1.568 billion euros from the operation, excluding the greenshoe option.
The final price of the IPO came in at the bottom half of the 7.40-8.90 euro per share indicative range set by the company.
The demand for the retail tranche of the IPO was 87.9 times the about 45.09 million shares on offer, while the institutional offer had a demand of 6.1 times the around 180.34 million shares offered.
EDP offered a total of 225.43 million shares representing 25 percent of the company's increased share capital to institutional and retail investors.
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