Uniper Shares Start Trading

Shares began trading in the E.On spinoff company Uniper September 12.

They began trading on the regulated market on the Frankfurt Stock Exchange. The opening price was set at €10.015 during an opening auction on the trading platform Xetra. For every ten shares of E.ON owned, shareholders received one additional Uniper share on September 9.

By 10.45am Central European Time (8.45am GMT), Uniper shares had risen to €10.80, whereas E.ON shares which opened September 12 at €7.39 had slipped to €7.15.

"With the listing Uniper is now a truly independent company," said the new company’s CEO Klaus Schafer: "I want to thank everyone involved for being fully focused on the spin-off for almost two years and putting a tireless effort.”

E.ON CEO Johannes Teyssen said: “I wish Uniper and its employees all the best for the exciting times ahead. I am convinced that Klaus Schafer and his team will successfully strengthen and expand Uniper’s position as a leading international energy company.”

Uniper takes on former E.ON coal and gas-fired plus some hydro power plants, fossil-fuel trading, gas storage assets, and its Swedish nuclear plants. German nuclear assets will be retained by E.ON which will also keep its windfarms and most other infrastructure assets, including transmission.

Mark Smedley