Dong Energy, the Danish state-controlled utility, has set its indicative price range for its planned initial public offering (IPO).
The firm's float price of 200 Danish crowns to 255 Danish crowns implies a market value of up to 106.5bn Danish crowns (£10.9bn). The flotation was previously expected to value the company around 80bn Danish crowns.
Dong, which also develops wind farms, said the price would be determined in a bookbuilding process which will run from today until 8 June, with the shares set to be traded on the Copenhagen stock exchange from 9 June.
Between 15.1 and 17.4 per cent of Dong's shares will be sold in the IPO, with the Danish state keeping control of a 50.1 per cent stake in the company. The kingdom of Denmark will remain the largest shareholder in Dong.
“The IPO is an important milestone in the development of Dong Energy," said Danish finance minister, Claus Hjort Frederiksen.
"The company has grown from primarily being a Danish utility business to becoming a growing international company with a leading position in the offshore wind sector. Dong Energy is well placed to build on its position as a truly great Danish business.”