Neoenergia Cancels IPO in Brazil -Europa Press
December 15 2017 - 3:14AM
Dow Jones News
--Brazil's Neoenergia SA (NEOE3B.SM)--in which Iberdrola SA
(IBE.MC) has a 52.45% stake--has suspended its initial public
offering after its other two shareholders, Banco do Brasil SA
(BBAS3.BR) and pension fund Previ, rejected the price range sought
by investors, Europa Press cites sources as saying.
--Sources said that the indicative price range valued Neoenergia
shares at between 15.02 Brazilian real ($4.5) and BRL18.52 ($5.56)
each, Europa Press reports.
--According to Europa Press, sources said that Banco do Brasil
and Previ preferred to cancel the IPO after the market didn't react
to the proposed listing as expected.
Full story: http://bit.ly/2Ca9AYL
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(END) Dow Jones Newswires
December 15, 2017 03:59 ET (08:59 GMT)
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