Ding Dong

The name Dong Energy may not sound as appetizing as a delectable Danish pastry, but the utility’s business looks to be sweet enough for the Danish government to get a good price in its planned initial public offering of 28% of its shares, valuing the company at something more than E8bn. Dong gets about 70% of its revenues from energy distribution, making it a safe utility. The London utility index is up almost 11% in the past year. The remaining 30% of Dong’s revenues are from oil and natural ga...