Brazil's Copasa prices share offering at 49.03 reais per share, reports Valor Economico

Brazil's Companhia de Saneamento de Minas Gerais (Copasa) has priced its share offering at 49.03 reais per share, according to reports and analysis. This price represents a 3.8% premium over the minimum price set by the state government of Minas Gerais, which initiated the privatization process in May 2026. The offering includes the sale of a 30% stake in Copasa to a strategic investor, a role secured by Brazilian power company Equatorial SA. The company has committed to purchasing the stake for 5.59 billion reais ($1.1 billion) and has expressed interest in acquiring up to 48 million additional shares in a second phase of the offering.

The privatization process has drawn significant investor interest, with demand reaching R$50 billion. The state government, which currently holds a 50.03% stake in Copasa, also plans to sell an additional up to 20% of the company to broader investors in the second phase of the offering, which is set to be priced on June 11. The privatization is part of a broader trend in Brazil's sanitation sector, which has seen similar efforts with companies like Sabesp.

Copasa's shares have been listed on B3 since February 2006 under the ticker CSMG3 and are traded in the Novo Mercado segment. The company's privatization is expected to enhance market confidence in the sanitation sector and raise billions in capital for infrastructure development.