Ithaca Energy Shares Fall After DKL Energy, Eni UK Sell Shares

Dow Jones
09/02
 

By Ian Walker

 

Ithaca Energy shares fell in early trade after its two biggest shareholders, DKL Energy and Eni UK, sold some of their shares at a discount.

Shares were down 26.50 pence, or 11%, at 211 pence in early morning European trading. They are currently down 91% over the year to date.

Investment bank Peel Hunt said Tuesday that it sold a total of 49.6 million Ithaca shares on behalf of the companies at 213.75 pence, more than expected when the sale was first announced late Monday. The price is a 10% discount to Ithaca's closing price of 237.50 pence Monday.

Late Monday Peel Hunt said it was selling about 33 million Ithaca shares on behalf of DKL and Eni UK via a bookbuild process.

Following the sale DKL will own 834.6 million shares, or 50.5%, and Eni will own 594.05 million shares, or 35.9%, in Ithaca.

DKL is a wholly owned subsidiary of Delek Group and Eni UK is an indirect wholly-owned subsidiary of Eni S.p.A.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

September 02, 2025 04:03 ET (08:03 GMT)

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