The Danish National Audit Office has reviewed DONG Energy's capital injection and IPO.
At a press conference today, the Danish Public Accounts Committee published the Danish National Audit Office's report on DONG Energy's capital injection and initial public offering (IPO). The 60-page report from the Danish National Audit Office contains a factual review of the course of DONG Energy's capital injection in 2013-2014 and the IPO in 2016.
The report dismisses the speculation about the capital injection which has been put forward in books and the media. The Danish National Audit Office's report documents that DONG Energy needed a capital injection, that the valuation was based on recommendations from advisers to the Danish state, and that the share programme was prepared and decided on in strict compliance with current governance rules and in accordance with the Danish state's ownership policy.
DONG Energy's management comments on the report
In a comment on the report, Thomas Thune Andersen, DONG Energy's Chairman of the Board of Directors, says:
"The Danish National Audit Office has done a very thorough job. The report provides a nuanced description of the course of events surrounding DONG Energy's capital injection and IPO, and it also shows that the accusations made against DONG Energy's management were unfounded. I hope the continued debate in the media and among opinion-makers will be based on the factual review in this report."
In a comment on the report, Henrik Poulsen, CEO of DONG Energy, says:
"The Danish National Audit Office's thorough report explodes the myths about DONG Energy that arose in the wake of the capital injection and the IPO. We're now looking forward to leaving speculation and myths behind and instead focusing on what we're most passionate about, which is developing DONG Energy as a global leader in green energy."