June 10, 2019 |
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
Iberdrola's Brazilian subsidiary looks to earn $845m for its shareholders in stock market debut