Oi sets out stall for jumbo capital raise

Oi sets out stall for jumbo capital raise

Equity

Brazilian telecom Oi has advanced an equity sale that is set to become Latin America’s largest since BB Seguridade’s April IPO — but which is likely to present a tough test for the region’s markets. The issuance of BRL5bn ($2.1bn) to BRL6bn in shares is part of a BRL14.1bn capital increase necessary for Oi to complete a merger agreed last October with Portugal Telecom. In a prospectus published Thursday, Oi said a third of the shares for sale will be ordinary shares and two-thirds preferred inst

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