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DONG Energy IPO could be the biggest in Denmark’s history

TheCopenhagenPost
September 21st, 2015


This article is more than 9 years old.

Political majority wants state to retain majority shareholding until 2020

The Danish energy company DONG Energy is planning an IPO within the next 18 months and analysts assess that it could be valued at as much as 70 billion kroner, which would make it the biggest initial public offering in Denmark’s history, Bloomberg Business reports.

Jacob Pedersen, an analyst at Sydbank, told TV2 News it was difficult to find companies to compare with DONG in order to arrive at a valuation, but that his estimate was between 50 and 70 billion kroner.

The company’s shareholders agreed in February to develop an IPO roadmap, and on Friday the company announced how it intends to pursue a listing. The state is the main shareholder in DONG, and a broad political majority announced on Friday that it supported retaining a majority shareholding until at least 2020.

Last year about a fifth of DONG’s shares were sold to Goldman Sachs for 8 billion kroner, which continues to cause public outcry. The bank’s acquisition was based on a valuation of 31.5 billion kroner so it could stand to gain significantly from an IPO.

READ MORE: Goldman Sachs ready to disclose DONG info

Denmark’s IPO record to date is the 1994 sale of about half of the telecom company TDC, which valued the company at 40 billion kroner.


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”