Copasa shares fall 7% after changing privatization offer conditions

Copasa shares operate in the negative this Wednesday (27), leading the falls of the Ibovespa, after the company changed offer conditions linked to privatization.

At around 11:20 am, Copasa shares fell around 7%, quoted at R$49.

Copasa informed this Wednesday, in a relevant fact, that it will change the conditions of the secondary public offering of shares linked to the company's privatization process. In practice, the movement implies a new share offering and an updated Offering schedule.

The announcement comes on the day when the name of the chosen reference shareholder was expected to be announced. The dispute, formalized last Monday (25) with the presentation of the proposals, was between Aegea Saneamento and Equatorial Energia.

According to the relevant fact, the changes arise from "supervening factors" identified within the scope of the operation and not detailed in the document in question.

The effectiveness of the changes still depends on the opinion of the State-Owned Coordination and Governance Committee.

Source: CNN