The shareholders of the Brazilian power group Neoenergia, namely Iberdrola (52.45%), pension fund Previ (38.21%) and Banco do Brasil Investimentos (9.34%) have decided to sell part of their stakes in the company through an initial public offering (IPO) that will be carried out on 1 July 2019. BB Investimentos plans to sell 113.4 million shares, Previ 64.9 million shares and Iberdrola 29.7 million shares. The pricing of the offering will occur in late June 2019 but share prices should range between BRL 14.42 and BRL 16.89 (US$3.73-4.37 per share). Shareholders would then raise up to BRL 3.3bn (over US$850m) from selling stakes in the company, which is valued between BRL 17.5bn and BRL 20.5bn (US$4.5-5.3bn).
Neoenergia is a large power company in Brazil, active in power generation (equity interest of more than 4.5 GW in 2018, based on hydropower and wind power) and power distribution. The company operates through Coelba Companhia de Electricidade do Estado da Bahia, Cosern, Celpe, and Elektro, distributing electricity to more than 34 million customers and selling electricity to 13.8 million clients.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.