EDP Brasil, an EDP Group subsidiary company that operates throughout the Brazilian electricity value chain, is set to be listed on Latibex, a Latin American securities market associated with the Spanish stock exchange. With this decision the company intends to increase its exposure to foreign investors, creating new ways of financing its activities and boosting the value of its assets.

The trading of EDP Brasil shares on Latibex will kick off on October 27 under the name XENBR. Scheduled for 11:30 am, the listing of the company - which has an estimated market cap of €1.9 billion - on Latibex will include a virtual opening ceremony held both in São Paulo and Madrid. The ceremony will feature the presentation of EDP Brasil's strategy and growth plans for the 2021-2025 cycle.

"Trading our shares in a new market is yet another important step in EDP Brasil's steady growth path. The company's listing on Latibex shows that its governance standards are in line with the best international practices and that the company boasts some of the most competitive Latin American assets in the world. We are very excited to take this step," said João Marques da Cruz, CEO of EDP Brasil.

"For Latibex, it is an honor to welcome EDP Brasil into this market. The company's arrival reinforces Latibex's role as a link between companies and investors on both sides of the Atlantic and reflects the growing interest of Latin American companies in European financial markets," said Latibex Director Jesús González Nieto. With this decision, EDP Brasil becomes the 19th company to be listed on this stock exchange.

EDP has been operating in Brazil since 1996 and went public in the country back in 2005. The company has more than 10,000 direct and indirect employees and is present in 13 Brazilian states; it operates on the energy generation, distribution, transmission, trading and services segments, offering solar generation and electric mobility solutions with a focus on the B2B market. For the 2021-2025 cycle, EDP Brasil has announced a record investment of €1.6 billion, which will focus on three areas: distribution, solar energy, and energy transmission.

EDP Brasil has been recognized for its good ESG practices and was the first energy company in Latin America - as well as the first large company in Brazil - to have its CO2 emission reduction target approved by the international Science Based Targets initiative (SBTi) - which, as the name suggests, challenges corporations to set science-based GHG reduction targets. The company has pledged to reduce the intensity of its emissions by 85% by 2032 (compared to 2017 figures), which translates into a decrease of approximately 8 million tonnes of greenhouse gases.

The company also funds the EDP Institute, which is responsible for EDP Brasil's social and cultural projects - such as sponsoring the restoration of the Portuguese Language and Ipiranga museums in Brazil. Since its establishment in 2009, the EDP Institute has invested more than €20 million in 450 projects that have benefited over 3 million people across the country. In 2020 alone, projects sponsored by the organization have reached more than 400,000 people in the areas where the company operates.

Latibex was established in 1999 and is the only international market focusing exclusively on EUR-traded Latin American assets. With the listing of EDP Brasil, Latibex will include 11 companies from Brazil, six from Mexico, two from Argentina, and one from Peru. The market cap increase of the FTSE Latibex Top index so far this year is 14%. The 23rd edition of the Latibex Forum - a prestigious event that brings together companies and investors from Latin America and Europe - will be held on November 22-24. Due to the Covid-19 pandemic, the conference will again have a virtual format, and EDP Brasil will attend it.