Neoenergia sets price range for IPO

Neoenergia sets price range for IPO

IPO Equity Capital Markets Energy Electricity Brazil Europe

Brazil's Neoenergia said it plans to earn around BRL3.26bn ($844m) from an IPO in the local stock market. The Rio de Janeiro-based power holding company will sell at least 208m shares for BRL14.42 to BRL16.89 each, although the bookrunners could increase the offer by 20%, or 41.6m shares. Neoenergia will set the final price on June 27 and start trading shares on the B3 stock exchange in São Paulo on July 1. It will float at least 15% of its shares after the IPO, according to the preliminary pros

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