CPFL Energia prices share sale

CPFL Energia prices share sale

Equity Capital Markets Corporate & Sovereign Strategy M&A Energy Electricity Renewable Wind Solar Brazil China US

Brazil's CPFL Energia could earn as much as BRL3.69bn ($960m) from a follow-on offering after pricing the shares at BRL27.50 each. The Campinas-based energy company said it will sell at least 117m shares, worth BRL3.21bn, and it has given the bookrunners 30 days to sell an additional 17.5m shares, worth BRL482m. The placement agents are Itaú BBA, Santander, Bradesco BBI, BTG Pactual and Morgan Stanley. CPFL Energia will increase its market cap to BRL8.95bn from BRL5.74bn after the share sale,

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