REFILE-UPDATE 1-Scan Energy to launch 200 mln euro IPO -sources

Fri Nov 13, 2009 1:11pm EST
 
[-] Text [+]

(Removes extraneous character from line 40)

* Germany's second biggest IPO this year

* Pre-marketing to start on Nov. 16

* Analysts put market value at around 500 mln euros

* Aims to list around Dec. 10

(Adds company comment)

By Daisy Ku

LONDON, Nov 13 (Reuters) - Danish energy operator Scan Energy is to kick start its 200 million euro ($297.5 million) initial public offering next week, aiming to be listed around Dec. 10, people familiar with the matter said on Friday.

Hamburg-headquartered Scan Energy will begin a pre-marketing process, in which bank underwriters are to brief potential investors on the company, next Monday.

"If market condition remains favourable, the IPO could likely come before the end of the year," said a spokesman at Scan Energy, adding he could not comment on the precise timeline.

The company, which aims to raise about 200 million euros by offering new shares to fund power projects in Poland and Italy, has yet to decide what percentage of its share capital to offer.

But analysts put a value of 500 million euros on the company before the IPO.

With Germany cable firm Unitymedia calling off a 500 million euro IPO for a trade sale, Scan Energy's listing would be Germany's second biggest this year, according to Thomson Reuters data.

German builder Hochtief (HOTG.DE) is looking to raise about 800 million euros in a December listing.

HSBC (HSBA.L) is the sole bookrunner and global coordinator of Scan's IPO, while Societe Generale (SOGN.PA) and Macquarie (MQG.AX) are co-lead mangers.

Scan on Wednesday announced that it planned to launch the IPO on Frankfurt's Prime Standard segment, which is more strictly regulated than the entry-level standard.  Continued...