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Stock impact report

SABESP: Equity Raise Starting To Look More Likely [Seeking Alpha]

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp American Depositary Shares (Each repstg 250 Common Shares) (SBS) 
Last companhia de saneamento basico do estado de sao paulo - sabesp american depositary shares (each repstg 250 common shares) earnings: 11/15 04:01 pm Check Earnings Report
US:NYSE Investor Relations: aegea.com.br/en
Company Research Source: Seeking Alpha
Summary Situation Today On June 29, 2018 Companhia de Saneamento Basico do Estado de Sao Paulo (or SABESP) ( SBS ) cancelled the proposed offering of “simple, unsecured and non-convertible debentures, in up to three series, for public distribution, with restricted distribution efforts” (“debentures”) in the total amount of up to R$750 million. The Company cited “current domestic market volatility conditions” as the reason for the cancellation. ( Source ) In light of this, we believe SABESP may soon need to tap into the equity markets to fund its operations and debt repayments - or at least the likelihood of an equity raise happening in the near future looks more likely now than in recent years. Here’s why: Capital Intensity First of all, SABESP is capital intensive - spending on average approximately R$2 billion annually to maintain its capital base and engage in growth initiatives (the Company’s CAPEX has primarily been towards growth, as is evident by the Show less Read more
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