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Lithuanian energy group Ignitis IPO sees strong demand

Reuters

(Reuters) - Lithuanian state-owned energy company Ignitis Group's initial public offering books were covered as of Wednesday, indicating that demand for its shares exceeded the deal size, bookrunners said.

IPO books generally need to be covered at least twice for any listing to be successful, investment bankers say.

The IPO on Nasdaq Vilnius and London Stock Exchange is set to value Ignitis Group between 1.7 billion euros and 2.1 billion euros (1.56 billion pounds-1.93 billion pounds).

(Reporting by Shanima A in Bengaluru; Editing by Amy Caren Daniel)