June 14, 2019 |
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, it
Brazilian energy company could earn up to $960m to pay for an increased stake in its renewable energy business