CPFL Targets over BRL1bn in IPO

CPFL Targets over BRL1bn in IPO

Equity

CPFL Energias Renovaveis has detailed its plans for another crack at the IPO it first filed documents for in 2012. The IPO will comprise 28m primary shares and 44m secondary shares, to be priced between BRL12.51 and BRL15.01, meaning the deal could raise BRL900m–BRL1.08bn, or up to BRL1.24bn if the 15% greenshoe is exercised. Global coordinators Bank of America Merrill Lynch, BTG Pactual and Itau BBA will take orders between July 4 and 16. The shares will be sold domestically and in the US throu

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