Brazil’s Sabesp Set for $2.7 Billion Privatization in Jumbo Stock Offering

Brazil’s Sabesp Set for $2.7 Billion Privatization in Jumbo Stock Offering

19 Jul, 2024

Brazil’s Sabesp Set for $2.7 Billion Privatization in Jumbo Stock Offering

The state of Sao Paulo, Brazil’s wealthiest and most populous region, is set to privatize its water utility Sabesp through a substantial stock offering. According to sources familiar with the matter, the state government is selling 191,713,044 existing shares at 67 reais each. An additional allotment of 28,756,956 shares will also be sold at the same price, raising the total to approximately 14.8 billion reais ($2.7 billion). This offering price represents a discount from Sabesp's current trading level of around 81.94 reais per share.

The privatization move marks a significant shift in the control of Sabesp, aiming to enhance the utility's efficiency and service delivery through private sector involvement. While Sabesp and the Sao Paulo state government have yet to comment officially, local media outlets have reported on the pricing details earlier on Thursday. The privatization of Sabesp is expected to attract substantial interest from investors, given the utility's pivotal role in water supply and sanitation in Brazil's most economically significant state.

 


Related News

Brazil-China strengthen partnership to unlock new cooperation opportunities

13 Mar, 2025

Brazil is strengthening its partnership with China, unlocking new opportunities…
Read More
Brazil-China strengthen partnership to unlock new cooperation opportunities

11 Mar, 2025

Brazil is strengthening its partnership with China, unlocking new opportunities…
Read More
Brazil’s AI-Driven Agriculture Market: Latest Research Insights & Opportunities

03 Mar, 2025

Brazil is making significant strides in integrating Artificial Intelligence (AI)…
Read More
Brazil strengthens global ties with celebrations of new international partnerships

28 Feb, 2025

The University of Birmingham has a rich history of international…
Read More
Motorola Solutions Expands FairCom Partnership at FairCom Brazil Dev Day

21 Feb, 2025

FairCom and Motorola Solutions have expanded their partnership internationally by…
Read More
Nigeria and Brazil Collaborate on AI to Boost Economic and Tech Growth

04 Feb, 2025

Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, recently…
Read More

© 2025 Business International News. All rights reserved | Powered by Cred Matters.