AXIA Energia S.A. (AXIA)

AXIA Energia S.A. is the Brazilian electricity company that was long known as Centrais Eletricas Brasileiras S.A., or Eletrobras. Created under Brazilian federal law in the early 1960s as a state holding company for the country's power sector, it grew into the largest electricity generation and transmission group in Latin America. Its headquarters are in Rio de Janeiro, and its operations include hydroelectric, thermal, nuclear and wind and solar generation, together with an extensive high-voltage transmission network.

For most of its history the company was controlled by the Brazilian federal government. Its shares were listed in Sao Paulo on what is now the B3 exchange, and its American depositary shares began trading on the New York Stock Exchange in the late 2000s. The ADSs represented common shares and, separately, preferred shares, each class with its own ticker symbol.

In 2022 Brazil carried out a privatization of Eletrobras through a public share offering that reduced the federal government's stake below a controlling level and turned the company into a corporation with dispersed ownership. After the offering the company continued to operate its large generation fleet and transmission assets under a restructured governance model. It later adopted the corporate name AXIA Energia, and the NYSE ticker became AXIA for the common ADSs and AXIA PRC for the Class C preferred ADSs.

In July 2026 the company announced that it would voluntarily delist its ADSs from the NYSE. It explained that the aim was to consolidate its liquidity in the Brazilian market, noting that the ADSs represented only about 2.5 percent of its outstanding shares. The affected securities were the common ADSs and the Class C preferred ADSs, both under a Citibank-administered depositary program.

The company stated that the last NYSE trading day would be on or about August 6, 2026, with the delisting effective ten days after the filing of Form 25 with the SEC. Following the delisting it planned to file Form 15F to deregister its securities under U.S. law and suspend its reporting obligations under the Exchange Act, such as Form 20-F and Form 6-K, with the suspension becoming complete within 90 days if the SEC did not object.

The ordinary and preferred shares remain listed on B3, which continues to be the primary trading venue. The company said it expects the ADSs to continue trading in the United States over the counter through a sponsored Level 1 ADR program, and that holders of ADSs need take no action. The change is a venue and reporting decision rather than a sale, merger or insolvency, and the business continues to operate as before.