Advertisement
UK markets closed

  • FTSE 100

    8,141.23
    +62.37 (+0.77%)
     

  • FTSE 250

    19,817.87
    +215.89 (+1.10%)
     

  • AIM

    755.59
    +2.47 (+0.33%)
     

  • GBP/EUR

    1.1662
    +0.0006 (+0.05%)
     

  • GBP/USD

    1.2457
    -0.0054 (-0.43%)
     

  • Bitcoin GBP

    50,941.24
    -156.95 (-0.31%)
     

  • CMC Crypto 200

    1,325.26
    -71.27 (-5.10%)
     

  • S&P 500

    5,097.28
    +48.86 (+0.97%)
     

  • DOW

    38,169.34
    +83.54 (+0.22%)
     

  • CRUDE OIL

    83.80
    +0.23 (+0.28%)
     

  • GOLD FUTURES

    2,343.90
    +1.40 (+0.06%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,160.41
    +243.13 (+1.36%)
     

  • CAC 40

    8,091.86
    +75.21 (+0.94%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

Exclusive: Brazil energy trading firm 2W hires banks for $282 million IPO - sources

Luciano Costa and Carolina Mandl
·1-min read

By Luciano Costa and Carolina Mandl

SAO PAULO (Reuters) - Brazilian energy trading firm 2W Energia has hired banks to manage an initial public offering which may reach up to 1.5 billion reais ($281.48 million), three sources with knowledge of the matter said on Thursday.

Investment banking units of Banco BTG Pactual SA, XP Inc, Bank of America and Credit Suisse will manage what would be the first Brazilian stock exchange IPO by an energy trading firm. Riza Capital is also advising the company.

2W plans to use proceeds from the offering to build solar and wind plants in Brazil's northeastern region, expanding its business beyond trading. It is currently building a 130 MW wind farm in the state of Rio Grande do Norte.

ADVERTISEMENT

Companies that both trade and generate energy usually cater to large customers, but 2W plans to sell energy to small- and mid-sized businesses with short-maturity contracts.

The company, which has former Renova Energia founder Ricardo Delneri among its partners, aims to debut on the B3 stock exchange by August or September.

($1 = 5.3290 reais)

(Reporting by Carolina Mandl; Editing by Cynthia Osterman)