Oi cap raise nets BRL15bn

Oi cap raise nets BRL15bn


Oi raised BRL14.9bn ($6.7bn) on Monday in a capital raise that paves the way for the Brazilian firm to merge with Portugal Telecom. The firm sold 2.4bn ordinary shares at BRL2.17 each, and 4.8bn preference shares at BRL2 each, according to Brazil’s securities commission, the CVM. The company had set out to sell 1.9bn ordinary shares and 3.8bn prefs. Existing shareholders were heard to have submitted around BRL1bn of orders for the transaction in a rights offering that was closed on Thursday. Boo

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