Danish utility Dong Energy, on Thursday, set an indicative price range for its planned stock market listing, which could value it at up to $16 billion (€14 billion), potentially making it Europe’s biggest flotation this year.

The company said it would sell up to 17.4 per cent of its shares in the initial public offering and the Danish state would keep a 50.1 per cent stake.

The company was created 10 years ago from the merger of a Danish state oil and gas entity and five regional utilities. It has grown rapidly to become the world’s largest offshore wind farm developer, building more than a quarter of the world’s offshore wind farms. It is a major player in the UK and Germany and recently opened offices in the US and Taiwan.

The government sold 18 percent of Dong to a group of investors led by Goldman Sachs in January 2014.

– (Reuters)