UPDATE 1-Brazil's Copel to list units, migrate to higher corporate governance segment
(Adds details and changes in listing)
SAO PAULO, March 11 (Reuters) - State-controlled Brazilian utility Copel said in a securities filing it will split its shares at the ratio of 1 to 10. The split will be effective on Friday, with each shareholder receiving new shares of the same class owned.
The company also will allow shareholders owning common shares to convert them into preferred ones if they want, at one to one ratio.
Copel will list units representing five shares of the company, one common share and four preferred.
Copel, controlled by the southern state of Parana, plans to migrate to the segment of highest corporate government in Brazil's stock exchange, but that will depend on the sale of shares owned by the state. (Reporting by Tatiana Bautzer Editing by Sonya Hepinstall and Karishma Singh)
