Enefit Renewables prepares for European IPO
Enefit American Oil parent company, Estonian state-owned Eesti Energia, plans to list up to 49 percent of its Enefit Renewables unit early next year in an initial public offering (IPO) that could raise up to 500 million euros ($557.25 million).
The listing was agreed in the Estonian government’s coalition agreement in last November.
The IPO is planned for the first half of next year, with the timing to be detailed later this year. The Bulk of the IPO proceeds would go towards the development of a new wind park in Tootsi, southwest Estonia.