Equatorial sells shares for Echoenergia acquisition

Equatorial sells shares for Echoenergia acquisition

Equity Capital Markets M&A Energy Electricity Wind Renewable Brazil

Brazilian power company Equatorial Energia raised BRL2.78 billion ($533 million) in follow-on offering to fund the acquisition of wind energy producer Echoenergia, it said in a securities filing. Equatorial issued 118 million common shares for BRL23.50 each in the offering, a discount from the closing price of BRL23.76 per share on Tuesday. Shares in Equatorial rose 0.67% after the offering to close at BRL23.92 on Wednesday. The São Luís-based company had planned to sell at least 87.7 million sh

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