Edison IPO: how to trade Edison shares

IPO stocks are often highly volatile, and early trading can involve rapid price swings and significant risk.

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When is the Edison IPO date?

There is currently no confirmed Edison IPO date, although Électricité de France (EDF), the French state-owned energy giant, is reviewing options for its Italian subsidiary Edison S.p.A., including a potential initial public offering (source: Reuters).

Background and structure

Edison, based in Milan, is one of Italy’s oldest and most diversified energy groups, with operations spanning electricity generation, natural gas, renewables, and energy-efficiency services. EDF acquired full control of Edison in 2012 and subsequently delisted it, but the company’s savings shares have remained listed on the Milan Stock Exchange (Borsa Italiana) – a special class that pays higher dividends but carries no voting rights.

Now, under EDF’s new CEO Bernard Fontana, the group is reassessing its portfolio as it seeks to raise funds to meet government-backed investment targets in France’s nuclear programme.

Timing and stake sale

According to Reuters and Global Banking & Finance Review, EDF executives have held meetings with investment banks in Paris to discuss the IPO. The company is expected to appoint financial advisers before the end of October 2025 and could bring Edison back to market in mid-2026, depending on market conditions.

EDF is reportedly considering selling 30-35% of Edison’s shares while retaining majority control. This approach would unlock value without relinquishing strategic influence over the subsidiary.

Valuation and financial performance

Edison’s potential market valuation is estimated between €7bn and €10bn ($8-11.6bn), according to sources cited in the Reuters report mentioned above.

The company reported revenues of €15.4bn and core profit (EBITDA) of €1.7bn in 2024, supported by its mix of conventional and renewable power generation. These figures position Edison among Europe’s leading mid-cap utilities, on par with peers such as Iberdrola Renewables Italia and ERG Group.

Analysts believe that an IPO could provide a strong capital-markets test for Italy’s energy sector, especially given the renewed investor interest in infrastructure-backed assets and the region’s energy-transition initiatives.

What is Edison S.p.A.?

Edison S.p.A. is an Italian integrated energy company active in power generation, gas supply, and renewable energy. Founded in 1884, it is one of Europe’s oldest electricity providers and a cornerstone of Italy’s industrial development.

Operations overview

Edison’s activities are divided into three primary business areas:

1. Power generation: operates natural-gas and combined-cycle power plants across Italy, with a total installed capacity exceeding 7 GW.
2. Gas and hydrocarbons: manages upstream gas assets and a nationwide supply network that delivers energy to industrial and residential customers.
3. Renewables and energy services: develops wind, solar, and hydroelectric projects, as well as offering energy-efficiency and decarbonisation solutions for businesses.

Ownership and corporate structure

EDF currently owns nearly 100% of Edison’s ordinary shares through its holding structure but has kept the non-voting savings shares listed in Milan since 2012. These listed savings shares already provide the legal framework for a full relisting, meaning Edison has the corporate and regulatory infrastructure ready for an IPO.

Strategic importance

Edison plays a central role in EDF’s southern-European portfolio, supplying gas and electricity to millions of customers and serving as EDF’s platform for renewables in Italy and the Balkans.

The company has been expanding its low-carbon and services divisions, particularly in hydrogen, battery storage, and distributed energy, aligning its operations with EU decarbonisation goals.

How does Edison make money?

Edison’s revenue model is diversified across energy generation, trading, and retail operations.

What might influence the Edison stock price?

The Edison stock price after a potential IPO will be shaped by energy-market dynamics, Italian economic conditions, and broader investor sentiment toward European utilities.

Energy-price environment and regulation

Electricity and gas prices across Europe remain volatile as markets adjust to post-crisis supply chains and renewables integration. Higher wholesale prices typically boost generation margins but may squeeze retail profitability. Conversely, falling gas costs could benefit Edison’s power segment but weigh on its trading division.

Regulatory changes in Italy or the EU – especially around carbon pricing, subsidies, and grid-integration rules – will also directly influence earnings.

Company fundamentals and capital allocation

Investors will focus on Edison’s ability to sustain earnings growth while investing in the energy transition. With EBITDA margins around 11%, the company demonstrates strong operational resilience, but future valuation will depend on its renewable-energy rollout and disciplined capital spending.

EDF’s commitment to retain a controlling stake may provide stability, yet investors will weigh this against the limited free float and potential constraints on governance independence.

Valuation outlook

If Edison lists within the potential €7-10bn valuation range, it would become one of Italy’s largest public energy companies after Enel and ERG. Investor reception will depend on market conditions at the time of listing, as well as the company’s dividend outlook and visibility of renewable growth.

Dividend expectations

Edison’s listed savings shares already pay a higher dividend yield than ordinary shares, reflecting limited governance rights. Any IPO would likely include a clear dividend policy to attract income-oriented investors, although payouts will depend on EDF’s capital strategy and reinvestment priorities.

Market sentiment and IPO context

Edison’s potential listing comes amid renewed appetite for European energy assets, driven by infrastructure-fund demand and ESG mandates. Recent successful listings in the utilities sector, such as Iberdrola’s renewable spin-offs and RWE’s clean-energy bond issues, have shown that investors value steady cash-flow generators with green-transition strategies.

Edison’s IPO may test the resilience of Europe’s equity markets following years of subdued listings, offering an opportunity to gauge whether Milan and Paris can attract capital for industrial and energy assets in competition with London and New York.

You can keep your finger on the pulse of the markets with expert insight from our in-house analysts. Check out our news and analysis section for more.

How to trade Edison shares via CFDs

As and when the Edison listing date happens, trading its shares via contracts for difference (CFDs) allows you to speculate on its price movements – without owning the underlying stock.

How to get started

• Step 1: Choose a platform Use a trusted broker like Capital.com, offering access to thousands of shares, indices and more.
• Step 2: Open an account Provide your personal details, verify your identity, complete a short suitability questionnaire, and set your trading preferences.
• Step 3: Add funds Deposit using card or bank transfer. Start small, and manage your risk carefully.
• Step 4: Track Edison’s performance Use charts, technical indicators and price alerts to monitor the market and spot trading opportunities.
• Step 5: Go long or short with CFDs Think the price will rise? Go long. Expect a drop? Go short. Apply stop-loss* or take-profit levels to manage your trades.

IPOs can be volatile, especially in the early days of trading. CFDs give you the flexibility to act on price swings in either direction. However, CFDs are traded on margin. Leverage above 1:1 magnifies losses and gains, which amplifies risk. Always use risk-management tools and stay informed with expert insights available on the Capital.com platform and app.

*Standard stop-losses are not guaranteed. Guaranteed stop-losses incur a fee when activated.

Which energy and utilities stocks can I trade?

As and when the Edison launch date happens, traders can gain exposure to similar European energy stocks on Capital.com, including:

• Enel (ENEL.MI) – Italy’s largest utility and a leader in renewables.
• Iberdrola (IBE.MC) – Spain-based multinational focused on renewable power and grid networks.
• RWE (RWE.DE) – German utility expanding rapidly in offshore wind and hydrogen.
• Engie (ENGI.PA) – French energy company balancing gas supply and low-carbon investments.

These peers provide benchmarks for valuation, yield, and exposure to Europe’s ongoing energy transition.