June 6, 2019 / 11:39 PM / 4 months ago

Shareholders in Brazil's Neoenergia to raise up to $850.5 million in IPO -document

SAO PAULO, June 6 (Reuters) - Shareholders in Brazilian power holding company Neoenergia SA expect to raise up to 3.3 billion reais ($850.5 million) with the company´s initial public offering, according to documents filed with Brazil’s securities industry watchdog on Thursday.

Neoenergia shares will be priced within a range of 14.42 reais to 16.89 reais, the document said. Shareholders Iberdrola SA, Banco do Brasil SA and Brazilian pension fund Previ will sell part of their stakes in the IPO. The pricing range values the full company between 17.5 billion reais and 20.5 billion reais ($4.5 billion and $5.28 billion). ($1 = 3.8799 reais) (Reporting by Carolina Mandl; Editing by Peter Cooney)

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