December 3, 2010 / 6:59 PM / 9 years ago

UPDATE 2-Enel raises less than hoped in green IPO

* Raises 2.4 bln euros vs potential of 2.6 bln euros

* Bank exercises options on 126 mln Enel Green Power shares

* Enel Green Power free float now at 30.8 percent (Adds Enel statement)

MILAN, Dec 3 (Reuters) - Italian power group Enel (ENEI.MI) said it raised a net of 2.4 billion euros from the listing of its green energy unit, short of the potential 2.6 billion euros, as options to sell more shares were only partially exercised.

The listing of Enel Green Power EGPW.MI EGPW.MC in November was Europe’s biggest initial public offering since 2008 and was aimed at helping Enel cut its debt to 45 billion euros ($59 billion) by year-end from 50.9 billion euros at end-September.

Mediobanca (MDBI.MI), one of the coordinators of the IPO, said in a statement on Friday it had exercised the additional “greenshoe” option on about 126 million Enel Green Power shares, out of a potential 210 million shares, at 1.6 euros each.

Enel Green Power’s free float is now 30.8 percent, Enel said in a separate statement. (Reporting by Danilo Masoni; Editing by Will Waterman, Dave Zimmerman) ($1=.7582 Euro)

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