Watchdog wants enquiry into offshore wind farm market flotation

A Danish political watchdog has asked the national audit office to investigate the role of certain parties involved in the stockmarket flotation of offshore wind farm developer Dong Energy.

The initial public offering (IPO) in June raised Dkr17bn gross for the Danish state and a consortium of investors led by Goldman Sachs, which doubled its investment at the start of 2014. That led to claims that the previous government sold an 18% stake too cheaply to the Goldman Sachs-led consortium.

The Danish Public Accounts Committee has asked the audit office to investigate a number of issues relating to the sale and subsequent IPO.

These include the role of the company’s management and the finance ministry in the valuation and sale of shares.

Dong Energy CEO Henrik Poulsen said that “we look forward to an investigation from the national audit office shedding light on the facts and dismissing the myths and misunderstandings that have been put forward in the public debate.”.