Cedae Ponders IPO

Rio de Janeiro state-owned water treatment company Cia Estadual de Aguas e Esgotos (Cedae) is studying an IPO, it says. Cedae does not give an indication of timing or size, but does note the government would maintain a controlling stake in the company. The company is still in the process of choosing banks to advise in the process, an investor relations official says, declining to give additional details.