RWE launches Innogy

RWE debuted its Innogy business in Frankfurt on Friday morning, as it looks to respond to market forces that have severely impacted its profitability over the last seven years.

Germany’s largest listing in 16 years saw shares rise above their €36 Initial Public Offering (IPO) price shortly after they started trading. This IPO is the biggest in Europe since the flotation of miner and commodities trader Glencore in 2011.
Peter Terium of RWE
RWE chief executive Peter Terium described the listing as "clear evidence for our unique, future-oriented business model."

The new business contains RWE’s renewables, retail and grids businesses and has been formed as utility companies in Germany try to adapt to the country’s radical energy policy – the Energiewende – which prescribes a major shift towards renewables and away from nuclear and fossil fuel power generation.

RWE will continue to manage power generation and energy trading concerns.

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