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Brazil's Omega Geracao prices IPO below range

Wind farm in Brazil. Author: Otávio Nogueira. License: Creative Commons, Attribution 2.0 Generic.

July 28 (Renewables Now) - Brazilian renewable energy company Omega Geracao SA set a price for its initial share offering (IPO) of BRL 15.60 per share, which is below the targeted range, according to a filing on Thursday.

The indicated range called for a price of between BRL 17 and BRL 22.

Reuters reported that the company has raised BRL 593.6 million (USD 187.5m/EUR 160.2m) by selling 38 million primary shares, while its shareholders got BRL 250.6 million from the sale of 16 million secondary shares.  

Omega Geracao currently operates 255.4 MW of renewable energy projects and plans to add another 220.8 MW of capacity to its portfolio this year, according to information on its website. The company's shareholders include US private equity group Warburg Pincus.

(BRL 1 = USD 0.316/EUR 0.270)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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