Eletrobras sets date for share sale

Eletrobras sets date for share sale

Economy & Policy Equity Brazil Capital Markets Electricity

Brazilian state-owned power company Eletrobras said it plans to price an upcoming share sale on June 9, setting up a privatization deal that could worth $7.37 billion. Eletrobras plans to issue 628 million new shares in the offering, while BNDESPar, the private equity division of national development bank BNDES, expects to sell 69.8 million existing shares. The power company could increase the size of the deal by 15%, or 105 million shares, to meet demand, it said in a securities filing on Frida

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