Enel is working on the sale of 17% of Endesa through a public sale offer. As anticipated a few months ago by Michele Calcaterra on FIRST online, the Italian electric giant is apparently outlining the operation to increase the free float of the Spanish subsidiary from the current 8% to 25%.
Considering the current market price adjusted for the dividend, the value of the Endesa share that would be placed on the market would be around 3,7 billion euro. According to analysts, this is positive news for Enel, which will thus obtain a substantial reduction in its debt, causing a positive reaction on the part of the market.
A positive reaction that seems to have already arrived: the rumors about the sale of a stake in Endesa, in fact, gave wings to the share of Enel, which, in the early afternoon, gained more than 2%, signaling itself as one of the brightest stocks in the Italian price list.
