The government of Paraná will transform Copel (CPLE6) into a dispersed capital company and, to do so, intends to promote a secondary public offering of shares.
It is the Companhia Paranaense de Energia – which generates, transmits, distributes and sells energy. The company is one of the largest electricity companies in Brazil.
The move is aimed at raising funds to meet the investment needs of the state, which will retain no less than 15% of the company.
It will also hold 10% of the votes conferred by the voting shares.
According to the document sent to the market, currently the State of Paraná holds 69.7% of the common shares and 31.1% of the total capital.
Copel (CPLE6): 3QRI22
On November 10, 2022 the company released its corporate balance sheet, when it obtained net income of R$378.4 million in the third quarter of 2022, a 63.4% drop compared to the same period of the previous year.
In a report, the company said that the fall followed, in part, the decline in operating revenues, which went from R$ 6.97 billion to R$ 5.45 billion, down 21.8%.
It also said that it invoiced R$ 354.6 million less with financial assets and liabilities, due to the “reduction in the costs with energy”, and had the revenue from the availability of the electrical network falling R$ 264.4 million “with impacts from the IPCA”.
The CPLE6 share ended November 18, 2022 quoted at R$7.16.