Aegea awaits market window to advance with IPO

By Rodrigo Viga Gaier
Rio de Janeiro (Reuters)-Aegea, a sanitation company that has Itaúsa among the main investors, maintains studies for a capital opening and is waiting for a more timely moment for the operation, said the company’s president, Radamés Andrade Casseb, on Wednesday.
Conversations with financial institutions for future operation modeling are currently ongoing, but according to Casseb there is no deadline for any IPO, considering the macroeconomic environment of high interest rates at historical levels.
Earlier, the newspaper O Estado de S. Paulo published that Aegea could debut in the stock market between the end of this year and the beginning of 2026, in a transaction that could move between $ 8 billion and $ 10 billion.
But Casseb said in an interview with Reuters that the most appropriate and favorable moment must be found for the company to advance in IPO.
“Aegea keeps preparing, trying to be ready,” he said. “Detailing will come at the right time. Everything under construction and preparation yet … But we continue to prepare,” he added avoiding commenting on the publication of the news about the IPO.
The opening of capital, according to Casseb, will be an important movement for the company to face its investments. “Providing another Source of Capital (IPO) can help improve capital stature, reduce the cost of catchment,” he said.
Last month, Itaúsa President Alfredo Setubal said that if the holding company that also controls the Itaú Unibanco Bank, could participate in an operation involving an eventual capital increase in Aegea “would be interesting”.
Currently AEGEA has as its partners the EQUAV infrastructure company (with 53%of total capital), the Sovereign Fund of Singapore (34%) and Itaúsa (13%).
Aegea is currently one of the largest sanitation companies in the country. The company claims to have operations in 766 cities in 15 states of the country and serves 33 million people.
Despite not commenting when an IPO of the company could occur, Casseb said that “market experts expect the scenario to start improving from 2026.”