Brazilian energy giant Neoenergia debuts on the São Paulo stock exchange

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GO ECO GREEN21. Brazilian energy giant Neoenergia debuts on the São Paulo stock exchange. Neoenergia* operates in 18 states and manages 13.9 million supply points in a concession area covering 840,000 km2. The company serves more than 34 million people and, since 1 July 2019, it has been the main private electricity company listed on the B3 in São Paulo with a capitalisation of around 19 billion Brazilian reais.

The Iberdrola group completed in August 2017 one of the most most important corporate operations in its recent history: it merged Elektro Holding with Neoenergia, The company now forms part of the Brazilian and Latin American energy market giant since the Shareholders’ Meetings of both companies approved the move.

The Neoenergia Board of Directors approved the listing of the company on the Brazilian stock exchange, according to the preliminary prospectus presented by the company to the country’s stock market supervisor, the Comissao de Valores Mobiliarios (CVM). Shares in Neoenergia finally started trading on the São Paulo exchange on 1 July 2019. This operation is the largest Initial Public Offering (IPO) in Brazil so far this year, and the most significant in the Brazilian energy sector since 2000.

After this successful offer, Neoenergia’s capital structure has changed: Iberdrola now holds 50% + 1 share, Previ, with 32.9%, has kept its position as a relevant, long-term shareholder, with 17.139% remaining as free float.

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