Cia. Estadual de Águas e Esgotos SA, the water and sewage utility owned by Brazil’s state of Rio de Janeiro, plans to sell shares in an initial public offering, according to a securities filing late on Friday. Cedae, as the company is known, hired BTG Pactual Group, the nation’s sole listed investment bank, to manage the transaction, the filing added.
The company did not disclose the size of the transaction or a timetable for it.
Besides BTG Pactual, the investment-banking units of Banco Bradesco SA, Banco do Brasil SA, Bank of America Corp and Itaú Unibanco Holding SA will also help handle the deal, the filing said.