January 21, 2021 |
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.
Minas Gerais state power company earns $260 mln for its stake in the Rio de Janeiro-based utility