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EdP Preps IPO For Growth Plan February 15, 2008

Energias de Portugal will float a 20-25% stake in its renewables division, EDP Renováveis, later this year via an IPO to help fund a EUR11.1 billion ($16.1 billion) growth plan. "It's an attractive way of financing growth. EdP is putting a lot of capital into the renewables sector over the next several years and has an aggressive growth plan. We don't want to restrict the business through restrictions on our balance sheet," says Miguel Stilwell d'Andrade, corporate development head in Lisbon.
The IPO, which will be placed on the Euronext Lisbon, offers ...

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