(Corrected to remove mention of Goldman Sachs in first
COPENHAGEN, Sept 14 A Danish political watchdog
on Wednesday asked the national audit office to investigate the
role of key parties involved in the share market flotation of
offshore wind farm developer DONG Energy.
DONG Energy's initial public offer (IPO) in June raised a
gross 17 billion crowns ($2.6 billion) for the Danish state and
a consortium of investors led by Goldman Sachs.
The sale meant the Wall Street bank doubled an 8 billion-
crown investment made just two and a half years earlier,
fuelling criticism in Denmark that the previous government sold
an 18 percent stake to the Goldman consortium too cheaply.
The watchdog, the Public Accounts Committee, asked the audit
office to investigate a wide range of issues related to the sale
and subsequent IPO, including the role of the company's
management and the finance ministry in the valuation and sale of
It also asked to look into DONG Energy's dividend payout to
Goldman Sachs and the Danish state since the flotation as well
as the share price since the IPO on June 9.
Having built more than a quarter of the world's offshore
wind farms, the company is a major operator in Britain and
DONG Energy's shares fell more than 1 percent on the news
but by 1458 GMT the stock was trading 0.2 percent higher at
($1 = 6.6127 Danish crowns)
(Reporting by Jacob Gronholt-Pedersen; Editing by Greg Mahlich)