HRT Raises Rights Offer

HRT Raises Rights Offer

Brazil Equity

HRT Participacoes has issued BRL1.27bn in new shares via a rights offering. HRT has issued 652,575 new shares at BRL1,950 each to holders of Canada's UNX Energy, which it acquired in February. The price was agreed to at the time of the acquisition and represents an 18% premium to Thursday’s BRL1,650 close. Other shareholders as of April 19 have until May 20 to subscribe at the same price, to bring the total number of new shares to as much as 1.35bn. Separately, a group of 14 shareholders, i

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