February 8, 2021 |
Brazilian power company Focus Energia moved BRL887 million ($165 million) on Friday after pricing its initial public offering (IPO) below the target price range.
Focus earned BRL765 million in the sale of 42.5 million shares in a primary offering, while existing shareholders earned BRL122 million in the sale of 6.8 million shares, according to a securities filing.
The São Paulo-based energy company priced the shares at BRL18.02 each, more than BRL3.00 below the target price range of BRL21.20 to
Brazilian power company follows four other issuers to debut on the B3 in the first week of February