Focus Energia plots IPO

Focus Energia plots IPO

Capital Markets Equity Corporate & Sovereign Strategy IPO Rule 400 Brazil Latin America

Brazilian power company Focus Energia has hired three banks to lead an initial public offering (IPO) on the B3 stock exchange in São Paulo, aiming to raise money for investments in the Futura solar power project in the state of Bahia. Focus said it recruited Morgan Stanley as lead coordinator and Santander and Citibank as co-bookrunners for the planned IPO, according to a preliminary prospectus filed on Friday. The São Paulo-based company recently acquired 20 of 45 solar parks at the 3 GW Futura

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