June 28, 2019 / 2:39 PM / 4 months ago

Brazil energy company Neoenergia prices shares at 15.65 reais

SAO PAULO, June 27 (Reuters) - Brazilian power holding company Neoenergia SA priced its shares at 15.65 reais ($4.09) each on Friday in an initial public offering that raised 3.26 billion reais, according to a securities filing.

Shareholders Iberdrola SA and Brazilian pension fund Previ sold part of their stakes in Neoenergia, while state-controlled lender Banco do Brasil SA sold its entire stake.

The offering marks the first non-core asset sale by Banco do Brasil, following newly elected President Jair Bolsonaro’s intent to speed up divestments at state-controlled banks.

Neoenergia’s stock - 17.1% of its total shares - will begin trading on Monday in Sao Paulo’s stock exchange.

Investment banking units of Banco do Brasil, Bank of America , JPMorgan Chase & Co, Citigroup Inc, Credit Suisse Group AG and HSBC Holdings Plc managed the offering.

$1 = 3.8293 reais Reporting by Carolina Mandl

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