Italy’s Enel plans a €3bn float of its green business

ENEL, the Italian electricity group, is pressing ahead with plans for its renewables unit that could raise at least €3bn (£2.7bn) in what would be Europe’s largest initial public offering so far this year.
The firm said it expected to file for the initial public offering of a minority stake, possibly 30 per cent, in renewable unit Enel Green Power before the end of April.

“We’ll be looking at opportunities to possibly float the company [in] ... June or, say, September-October,” said chief executive Fulvio Conti.

Conti said in the next few weeks the company would be holding a “beauty parade” to choose advisers.