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ENEL GREEN POWER

delay the Italian Enel, a symbol of This Green Economy.

Monday, October 18, 2010 Page 8
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ENEL GREEN POWER IS AN IPO REVISES worthy of the name

This is an offer that will be close to three billion euro to future partners is already was provided by CEO Conti a payout of 30%

While today in Shanghai will try to put some flowers on the guns of war currency, the Italian stock exchange, in coexistence with the English, celebrates a rare occurrence: the ' IPO of a large corporation. We are talking about Enel Green Power, a placement that will yield the parent company Enel about three billion euro. It is a rare occurrence because, as noted by Antonio Quaglio Plus24 up, "the market value of Enel Green Power (subscriptions start today) holds in each case by only one aware of all the freshmen last five years, except for blue chip."
SIGNAL
This is politically correct placement, since we are talking about clean energy. But beyond the environmental discourses, the investor is interested in whether it is a good deal or not. Before even groped to answer this question, it should be noted that if a big company like Enel decided to bring to market a share placement of this size, it means that the phase of financial panic, the stock market crisis has already been stored in the closet of horrors. It is also true, however, that going to knock on the doors of investors at this time of great uncertainty on the choice of where to allocate the funds could be smart move because the abundance of liquidity provision might be willing to be channeled, in part, Enel branded in this opportunity.
NUMBERS
The company intends to bring to market a maximum quota of Enel Green Power equal to 32.8 percent of the capital, amounting to over 1.4 billion shares. Taking into account that the expected price range is between 1.8 and 2.1 € at the end into the coffers of the company headed by CEO Fulvio Conti will about three billion. Provided the minimum lot is 2,000 shares for a maximum, and then, of 4,200 €. Just as had happened during the privatization of Enel, in this case there is a bonus share: If you hold their shares for at least a year, it will be given a free for every 20 shares held. With just this data to understand the IPO (Initial Public Offering) of Enel Green Power is the most important year for the Italian Stock Exchange (the title will be listed on the Madrid stock exchange also) the company expects a strong rating by small investors, which, however, is reserved for only 15 percent of the total, since the remaining 85 percent is aimed at investors institutions. PROSPECTS

The renewable energy sector is going through a time of great development, and it is likely a massive demand by small investors. It should also be remembered for the love of truth, that the people of Enel, in terms of price action, can not declare much satisfied with the returns earned. With equal honesty, it's fair to say that if Enel has been some backlash on the price, on the other side has always been generous in terms of dividends. From this point of view to the accounts was very clear, "Enel Green Power will be generous dividends - has said that more - and generosity in the field of renewable means 30 percent payout. " For non-experts, 30 percent payout means, without the profit earned by 100 companies, 30 will be distributed to shareholders. OVERVIEW

said Enel Green Power, is worth a bit 'of the situation of the bond and currency markets. Yes, because, as pointed out in these columns last week, the Fed began to press the accelerator and, through massive purchases of U.S. Treasury, the fact is printing money by pushing upward the prices of government bonds and to 'the dollar downwards. This is why the market for government securities, the highest, is becoming more and more like one of many speculative bubbles that have seen in the recent past. The problem is that it is not easy to predict if and when it will explode. What is certain is that at the time, Americans appear to overestimate the bond, but the Fed continues to buy them. © RESERVED REPRODUCTION