OGX Issues BRL2.29bn in Equity

OGX Issues BRL2.29bn in Equity


OGX, the oil and gas venture, raised BRL2.29bn Thursday in a private share offering to existing investors. OGX was created by Brazilian entrepreneur Eike Batista this year to bid on large drilling and exploration contracts in Brazil. Batista's fund, the Centennial Asset Mining Fund, reduced its holding in the company to 55.45% of the voting shares, giving the remainder to private equity funds. The second largest holder is now Ontario Teacher's Pension Plan which holds 22.29% of the voting shares

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