The agency was hired following a competitive pitch. Its brief is to provide international comms in connection with the IPO, reporting to DONG Energy’s Copenhagen-based head of comms Martin Barlebo.
Last week DONG Energy, the offshore wind power and oil and gas supplier with an annual turnover in 2015 of around £7.5bn ($10.8bn), said it planned to float on Nasdaq Copenhagen as early as summer 2016. At around an estimated $11bn (£7.6bn), it would be the biggest IPO in Danish history.
DONG Energy is 58.8 per cent owned by the Danish state, and will maintain a reduced but majority (50.1 per cent) stake after the flotation. The intended IPO is expected to consist of a sale of at least 15 per cent of the existing shares, the group said.
DONG Energy employs around 6,700 people, generating underlying earnings (EBITDA) of around £2bn ($2.8bn) in 2015. The company said it expected this to rise to between £2.1bn ($3bn) and £2.4bn ($3.5bn) in 2016 as it puts increasing emphasis on renewable energy.
DONG’s UK interests span offshore wind farms, oil and gas exploration and production, gas power station operation and commercial gas supply. It acquired Shell Gas Direct in 2011 from Shell UK. In 2013 the company switched its UK public affairs and PR account from Kreab Gavin Anderson to Hill+Knowlton, which still has the account.
Powerscourt’s new IPO brief is led by managing partner Victoria Palmer-Moore and head of industrials, energy and natural resources, Ian Middleton.