MPX Initiates Follow-on

MPX Initiates Follow-on

Brazil Equity

Brazil's MPX is looking to raise at least BRL1.38bn ($645m) through a public equity follow-on, the next planned stage in the process of Germany's E.ON taking a bigger stake in the generator. The EBX unit is planning to sell 138m primary shares, assuming a 15% greenshoe. The lead managers have guaranteed a minimum BRL10.00 per share price - the same level at which E.ON agreed to buy BRL1.42bn shares in April directly from Batista. At the time it also pledged to buy BRL350m in the follow-on. The p

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