Neoenergia May Raise Funds in IPO

Published: Jul 14 2017
Deal Summary

Neoenergia S.A., a power generation, transmission and distribution company, intends to issue shares in an initial public offering, as reported by the sources citing people familiar with the matter. According to the sources, the company intends to list its shares on Sao Paulo and New York stock exchanges.

According to reports, the IPO of shares may value Neoenergia at BRL35,000 million (USD11,000 million). The IPO could be launched around September 2017, when the company is expected to have won industry regulatory approval for Elektro Eletricidade & Serviços SA's takeover. Iberdrola SA will have 52.4% of Neoenergia once the takeover is completed. The dual listing will be a so-called secondary offer, allowing Banco do Brasil SA and pension fund Previ Fundaçao to sell part of their 9.4% and 38% stakes, respectively, in Neoenergia, the reports added.

You can receive free Monthly detailed “Deals Analysis Alerts” delivered directly to your
inbox – sign up below:

* Indicates Mandatory
*Phone Number:          
  captcha refresh
Enter Captcha Code:    

Send to friend

*Your EmailID:    
*Friend's EmailID:    
  captcha refresh
Enter Captcha Code: