Copel shares fall on debut in Brazil

Copel shares fall on debut in Brazil

Corporate & Sovereign Strategy Equity Capital Markets Latin America Brazil South America Energy Electricity Economy & Policy Politics

Paraná state-owned power company Copel saw the price for its newly created units drop 0.62% to BRL32.10 ($5.90) on the first day of trading on the B3 stock exchange in São Paulo on Monday. Cope'’s board of directors approved the formation of the companys first units – each with one common share and four preferred shares – under the ticker CPLE11 on Friday. Non-controlling shareholders converted their shares into 248 million units and the government of Paraná converted shares into 29 million unit

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