Oi’s follow-on to go ahead after CVM lifts ban

Oi’s follow-on to go ahead after CVM lifts ban

Equity

Oi’s plans to issue 5.75bn new shares to raise capital for a merger with Portugal Telecom have been given the go-ahead by Brazil’s security regulator. The issuance will include up to 1.92bn common shares and 3.83bn preferred shares, the company said in a statement. A 15% greenshoe option and 20% hot issue are also available in addition to the 5.75bn shares. Brazil’s security regulator CVM on Tuesday revoked an earlier order to suspend Oi’s follow-on sale for up to 30 days. The suspension was a r

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial