By Anthony Shevlin 
 

Iberdrola SA (IBE.MC) said Friday that it set the final offer price for Neoenergia SA (NEOE3B.SM) initial public offering on the Sao Paulo stock exchange.

The Spanish utilities company, which has a roughly 52.5% stake in the company through its subsidiary Iberdrola Energia, said the price has been set at 15.65 Brazilian reais ($4.07).

The price range was previously set at between BRL14.42 and BRL16.89.

Iberdrola said trading is expected to commence in the Novo Mercado segment of the Sao Paulo stock exchange on July 1.

The settlement of the offer will take place on July 2, it said.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

June 28, 2019 03:09 ET (07:09 GMT)