Brazilian Water 1 – ROW 0
- From: Vol 9, Issue 6 (June 2008)
- Category: General
- Region: Americas
- Country: Brazil
- Related Companies: American Water and Copasa
Brazilian water stocks have offered one of the few consistent growth areas in the global water sector this year. Copasa’s successful secondary offering in May will be followed by the IPO of Nova Cedae in 2009.
While American Water had to accept that demand for its IPO was not sufficiently robust to warrant the exercising of the greenshoe in full, Copasa had no such concerns with its secondary offering.
Lead underwriter Citi used the demand overhang to allocate a further 2.45 million shares at BRL24.50 on 20 May, thus completing the exit strategy of ...
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