January 20, 2022
Brazilian power company Equatorial Energia confirmed that it could raise acquisition financing through a follow-on offering on the B3 stock exchange in São Paulo, according to a securities filing.
Local business newspaper Valor Econômico had reported on Tuesday that Equatorial would sell shares to raise roughly BRL3.5 billion ($641 million) for the acquisition of wind power company Echoenergia. Equatorial agreed in late October to buy Echoenergia from British emerging markets investment firm Act
Brazilian power company could raise $641 mln in a follow-on offering to fund part of the Echoenergia acquisition