Cemig leaves Light in follow-on

Cemig leaves Light in follow-on

Capital Markets Corporate & Sovereign Strategy Equity Economy & Policy Energy Electricity Rule 476 Brazil Latin America

Minas Gerais state power company Cemig has exited its stake in the Rio de Janeiro-based electric utility company Light through a follow-on equity offering worth BRL2.74 billion ($518 million), according to securities filings on Wednesday. Cemig said it earned BRL1.37 billion from the sale of 68.6 million shares in a secondary offering that involved its entire 22.6% stake in the utility company.  Light itself raised BRL1.37 billion in a primary offering, issuing new shares for BRL20.00 each, a 6.

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