March 4, 2021

Neoenergia, subsidiary of Iberdrola, debuts on the stock exchange with a rise of 7.7% – La Provincia


Neoenergia, Iberdrola's Brazilian subsidiary, debuted on Monday at the Sao Paulo Stock Exchangewith a rise of 7.7%, to 16,86 reais(3.9 euros) per share. That is the official start value collected by the Sao Paulo stock exchange, although the first visible pre-opening price registered in the Brazilian parquetit had been slightly lower, at 16.52 reais (3.8 euros).

The electric directed byIgnacio Galánput on salea package of 29.7 million sharesand maintained a 50% equity interest plus one share.

The value of the offer has risento 3,255.89 million Brazilian reaisfollowing the sale of 208,044,383 shares of Neoenergia, whichthey represent 17.139% of its share capital, and after the final price was set at 15.65 Brazilian reais per share.

The operation represents thesecond and largest placement of this type in Brazilso far in 2019 and is the most relevant in the Brazilian energy sector since 2000.

Neoenergia "will continue to be the protagonist of Brazil's economic and social development in the coming years, responding to the growing potential demand for sustainable and reliable energy and generating wealth in the country, where it is present in 18 states and serves 34 million customers. ", said Iberdrola, whoplans to invest 6,000 million euros through its subsidiary.

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