Neoenergia prepares IPO

Neoenergia prepares IPO

Equity Energy Brazil

Brazil's Neoenergia said it is preparing for an IPO at the request of its shareholders. The Spanish utility company Iberdrola owns 52.5% of Neoenergia, while Previ, the pension plan for Banco do Brasil employees, has 38.2% and Banco do Brasil has 9.34%. Neoenergia did not say which shareholders had requested that the company get ready for an IPO. Neoenergia signed a BRL2.47bn ($643m) loan from the national development bank BNDES in January for the subsidiaries Companhia de Eletricidade do Bahia

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