Sources say that Italy's Dolomiti Energia has selected Intesa and Goldman Sachs as the lead firms for a potential IPO.

Two sources with knowledge of the matter said that Dolomiti 'Energia, an Italian regional utility, has lined up banks to help it prepare for its IPO later this year. The IPO could be worth more than 3 billion euros ($3.50 billion) and would value 'the group as a whole at more than?than?3 billion?euros. Last October, Chief Executive Officer Stefano Granella said that the group intended to list on Milan's stock exchange. This would give the blue-chip index a boost after several companies have abandoned it over the past few years.

Sources claim that Intesa Sanpaolo and Goldman Sachs were hired as global coordinators.

Sources said that the group aimed to list in October. They added that the IPO was subject to market 'conditions' and the company could be valued between 3 billion - 4 billion euros.

The integrated energy group, with 39 sites managed by it, is the fourth largest producer of hydroelectricity in Italy. 98% of their electric production comes from renewable sources. It distributes electricity and collects garbage.

Dolomiti Energia has not responded to a'request for comments. Intesa and Goldman Sachs both declined to comment.

The utility, which is majority owned by local authorities in Italy's north-east, posted core earnings of 491 millions euros in 2025. It had a net financial position at the end December of 601million euros.

In its strategic plan, released last year, the company stated that it aimed to "increase earnings before taxes, interest, depreciation, and amortization to 600 million euro by 2030."

The group announced that at the end of March it had asked management to conduct preliminary, non-binding analysis regarding the possibility of listing the ordinary shares of the parent company.

(source: Reuters)