According to Percy Soares Neto, consultant and former executive director of Abcon, this perception can help attract private investor interest.
The details released by the government of the State of São Paulo for the privatization offer of Sabesp (SBSP3) show that the state administration has structured itself well for the event, evaluates Percy Soares Neto.
According to him, this perception can help attract private investor interest.The expectation is that the offer will raise around R$ 16 billion, according to the premises published in the transaction presentation document, released on Friday night.
The government expects to conclude the operation on July 22.Download a list of 10 Small Caps stocks that, in the view of experts, have growth potential for the coming months and years.
“What caught my attention in the presentation was the well-defined schedule date for each stage of the operation. The State has organized itself well for the operation and certainly this should attract investors.
But let’s wait for the presentations that Governor Tarcísio de Freitas is making in New York,” he says. The specialist highlights the mechanism that allows the reference investor who presents the best book (price and quantity of shares) to have the so-called “right to match”.
He points out that the device was presented at the last minute, but he says it is still early to assess how companies will interpret it.
“Who benefits from this? Which of the competitors view the mechanism put in place more favorably?” Soares questions.
Continues after advertisingIn the assessment of the former director of the association of private companies in the sector, the privatization of Sabesp will be a milestone for the market in the field of basic sanitation in Brazil, as there are few companies in the sector with public traded shares and no state control.
Soares points out that many people bought shares of sanitation companies such as, for example, Copasa (Sanitation Company of Minas Gerais), waiting for this moment of privatization of sector companies in anticipation of a potential increase in the value of the stocks.
Regarding a possible judicialization process of the operation, Soares notes that “we have never gone through a privatization process without judicialization.
It’s part of the game. There is always the recourse of the judiciary for those who did not organize themselves in time or for those who did not have time to organize themselves,” he said.
