German energy group E.ON has set a date for the spin-off and listing of Uniper, its conventional power generation subsidiary, that will be carried out on 12 September 2016.
53.35% of the Uniper shares will be distributed to shareholders of E.ON SE; for every ten shares of E.ON SE owned, shareholders will receive one new registered no-par-value share of Uniper SE. Similar to the pricing of an IPO, the first price of the Uniper SE shares will be determined by way of an opening auction on the morning of the listing day. Neither Uniper SE nor E.ON SE are going to provide any guidance on the first price. Further stake sales in Uniper are not expected before 2018.
Uniper groups E.ON's conventional power generation assets (around 40 GW of hydro, natural gas, coal power assets) and global energy trading. In the first half of 2016, Uniper recorded a net loss of €3.9bn, related to impairment charges of €2.9bn primarily in the power-generation and gas storage businesses in Europe and to a provision of about €0.9bn for onerous contracts on gas-storage facilities.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.