Renova Energia SA, a Sao Paolo-based renewable energy company with 3 hydroelectric plants and 14 wind farms in operation, is planning to raise R$565.40 million ($313 million) in an initial public offering on the Bovespa. The company plans to offer 25.7 million shares at a price range of R$19.00 to R$25.00 ($10.51 to $13.83). Banco Santander Brasil SA and BofA Merrill Lynch are the lead underwriters on the deal, which is expected to price on March 17.
(Exchange rate of $1 USD = R$1.81 as of 3/1/10).
