Equatorial Defines Follow-on

Equatorial Defines Follow-on

Brazil Equity

Brazil’s Equatorial Energia plans to begin marketing a $600m-plus equity follow-on November 27, ahead of a December 6 pricing, according to regulatory documents. The energy holdco plans to sell 66m primary shares. This would indicate a BRL1.37bn ($663m) deal, assuming a 15% greenshoe is also used, based on Tuesday’s BRL18.09 closing price. A 20% hot issue, comprised of secondary shares owned by controller Vinci Partners, is also possible. About 70% of the proceeds are marked for capitalizing Cen

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