Energies Nouvelles, the renewable energy arm of Electricité de France, has become the latest European energy company to price its float at the top of its range, as its €525m ($693m) float seeks to buck a trend of share issues in the sector falling in the first few weeks of trading.

JP Morgan and Ixis Securities, sold 12 million shares in the French company at the top of its €24.10 to €28 indicative range.