Dolomiti Energia Eyes $3.5B IPO on Milan Stock Exchange

Italian regional utility Dolomiti Energia is gearing up for an initial public offering (IPO) with a potential valuation of over 3 billion euros. The company has engaged Intesa Sanpaolo and Goldman Sachs as global coordinators for the listing, which is tentatively targeted for October. This move is expected to bolster the Milan stock exchange.

Dolomiti Energia, majority-owned by local administrations in northeastern Italy, is a prominent hydroelectric power producer, managing 39 sites and generating 98% of its electricity from renewable sources. The integrated energy group also handles power distribution and waste collection.

In 2025, the company reported core earnings of 491 million euros, with a net financial position of 601 million euros at the end of December. Dolomiti Energia has outlined a strategic plan to increase its earnings before interest, taxes, depreciation, and amortization to 600 million euros by 2030. The group recently initiated preliminary analyses for a potential listing of its ordinary shares.