CPFL Set for IPO

CPFL Set for IPO

Brazil Equity

Brazil’s CPFL Energias Renovaveis is scheduled to price an IPO today, targeting more than BRL900m ($400m). The renewable energy arm of utility CPFL is offering 28m primary shares and 44m secondary shares at BRL12.51-BRL15.01, meaning a BRL1.14bn transaction at the midpoint if a 15% greenshoe is included. Books were heard to be more than half covered on Tuesday. The issuer first tried to price an IPO last year, with market conditions getting in the way. This time, though, the deal counts on a gua

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial