Energy transmission company ISA Energia announced on the morning of Friday, July 3rd, that it is evaluating the possibility of conducting a subsequent public offering of primary distribution of its preferred shares, which could raise approximately R$ 650 million.
In a relevant fact, the company informed that it has hired BTG Pactual as financial advisor for the potential follow-on offering . And that, if the offering is completed, the company's shareholders will have priority for subscribing to the shares subject to the offering, in accordance with applicable regulations.
According to the company, ISA Capital, its controlling shareholder, has expressed its intention to subscribe to shares equivalent to, at most, its 35.81% stake in the company as part of a potential offering.
As part of this process, the company has called an Extraordinary General Meeting, to be held on July 24th, in order to deliberate on the amendment and consolidation of the company's articles of association, which will involve changes to articles to prepare the ground for the potential offer.
ISA Energia also emphasized that there is no formal decision regarding the offer, nor its terms and conditions. And that the process is subject to, among other factors, conditions in the Brazilian and international capital markets.
Responsible for 30% of the transmission system in Brazil and 95% in São Paulo, ISA Energia has been investing to expand its operations. In this direction, one of its recent projects was an investment of R$ 1.1 billion in the largest underground transmission line project in the country.
The project , spanning 44.6 kilometers, connects the Cambuci neighborhood in central São Paulo to the municipality of São Caetano do Sul in the Greater ABC region.
In other recent moves, the company, which plans to invest R$ 12.3 billion by 2030, obtained in May the installation license for the remaining block of the Serra Dourada project, which will connect western Bahia with northern Minas Gerais, with a projected capital expenditure of R$ 3.2 billion.
Back in June, the company announced that it had obtained the final clearance to begin commercial operation of Block 3 of the Piraquê project, which will cover approximately 1,000 kilometers in length across the states of Minas Gerais and Espírito Santo.
If it goes ahead with its offering, ISA Energia will also reinforce the volume of follow-on offerings carried out in 2026 on the B3 stock exchange. The energy company's process would be the fifth over-the-counter offering on the Brazilian stock exchange this year.
The other four bids involved Moura Dubeux , with approximately R$ 500 million; Azul , with R$ 4.9 billion; Banco Pine , with R$ 245.9 million; and the Pague Menos pharmacy chain, with R$ 458.5 million.
Shares of ISA Energia closed trading on Thursday, July 2nd, down 3.12%, at R$ 32, valuing the company at R$ 21 billion. Year-to-date, the shares have accumulated a depreciation of 5.8%.
