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Eletrobras To Price Share Offering On June 9

BRAZIL

*Eletrobras To Price Share Offering On June 9 (BBG)

  • Brazil’s state-controlled utility Eletrobras will launch potentially one of Brazil’s largest equity deals on record, leading to the privatisation of the power company.
  • Centrais Eletricas Brasileiras SA (Eletrobras), and Brazil’s development bank BNDES are offering a combined 697,476,856 shares, according to a filing Friday. If the over-allotment is fully sold, it could add as much as 104,621,528 shares to the deal.
  • The sale could raise as much as about 35 billion reais ($7.4 billion) based on the stock’s Thursday close. (BBG)
  • That would make it Brazil’s second-largest on record, trailing only the $70 billion offering of Petrobras stock in 2010, Bloomberg data indicates.
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