October 5, 2016 / 11:06 AM / a year ago

Innogy says to price IPO at 35 to 36 euros per share

FRANKFURT, Oct 5 (Reuters) - German power utility RWE is expected to price the initial public offering of its renewables, network and retail business Innogy at the upper end of the price range, it said on Wednesday.

Investors have been guided to prepare for a price of 35-36 euros per share, Germany’s second-largest utility said, confirming a Reuters report.

RWE said last month that Innogy will issue 55.6 million of new shares while parent RWE aims to sell as many as 83.3 million existing shares at a price of between 32 and 36 euros apiece. (Reporting by Arno Schuetze and Christoph Steitz; Editing by Georgina Prodhan and Edward Taylor)

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