Equatorial sizes up share sale for Echoenergia acquisition

Equatorial sizes up share sale for Echoenergia acquisition

M&A Equity Capital Markets Energy Electricity Wind ESG Brazil

Brazilian power company Equatorial Energia has announced the size of an upcoming share sale to finance the acquisition of wind energy producer Echoenergia, according to a securities filing on Wednesday. Equatorial said it plans to raise at least BRL1.94 billion ($358 million) from the sale of 87.7 million shares, based on the closing price of BRL22.16 per share on Wednesday, but it added that it could increase the size of the offering by 35%, or 30.7 million shares, making the deal worth as much

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