Brazil's Axia jumps after proposed shift to top governance segment

Axia Energia SA

19/02/2026 13:54

Feb 19 (Reuters) -

Shares in Brazilian power company Axia Energia AXIA5.SA surge following a proposed migration to Novo Mercado

Novo Mercado is the highest corporate-governance listing segment of Brazil's financial exchange operator B3

Axia has called a shareholders' meeting for April 1 to vote on the migration, it said in a securities filing on Wednesday

If the proposal is approved, Axia will have a shareholder base composed solely of voting shares

Analysts at Santander describe the migration as a "constructive step", and expect the proposal to be approved

"Listing on the Novo Mercado should further strengthen corporate governance standards and enhance liquidity," they say in a note to clients

Sao Paulo-traded shares of Axia rise 2.2%, while benchmark stock index Bovespa .BVSP gains 0.4%

 (Reporting by Isabel Teles)

 ((Isabel.Teles@thomsonreuters.com;))