Iberdrola’s Brazilian energy subsidiary Neoenergia has debuted on Spain’s international index for Latin American securities, Latibex, operated by BME.
Neoenergía has close to 700,000 km of power lines, controls five distribution companies in 18 states plus the country’s federal district and is also one of the country’s leading energy suppliers, with 5200MW of installed capacity, 80% of which is green.
Earlier this year Neoenergia has started operations at the almost 468MW Chafariz wind farm complex in Sertao da Paraiba, Brazil.
Iberdrola controls 53.5% of Neoenergia, which has become one of the largest listed companies on the São Paulo Stock Exchange. Its second largest shareholder is the insurance company Previ (30.3%).
Neoenergia CEO Mario Ruiz-Tagle, was on hand to ring the bell at the Palacio de la Bolsa de Madrid, accompanied by Jesús González Nieto, managing director of Latibex.
Ruiz-Tagle said: “Our track record in Brazil has been built on solid financial discipline and investments in innovation and forward-looking technologies, which are accelerating the digital transformation of the electricity sector in the country.
“Listing our shares on Latibex reinforces our commitment to sustainable and transparent management, guided by the generation of value for all shareholders.”
The CEO said the listing on Latibex is the best way to expand its investor base in Europe and that the timing was right.
Neoenergia is the nineteenth company listed on the Latibex and the twelfth from Brazil.
The company is included in the FTSE Latibex All Share index and the FTSE Latibex Brazil. The latter index has grown by almost 30% so far this year.
Neoenergia will also be a candidate for inclusion in this market’s selective index, the FTSE Latibex Top.