Eneva prices share sale at discount

Eneva prices share sale at discount

Corporate & Sovereign Strategy Equity Brazil Capital Markets Energy Electricity

Brazilian energy company Eneva raised BRL4.2 billion ($802 million) for an acquisition after pricing its shares at a discount in a follow-on offering last week, it said in a securities filing on Saturday. Rio de Janeiro-based Eneva issued 300 million shares for BRL14.00 each, 5.2% below the closing price on Friday, according to the filing. Shares in Eneva rose 5.78% to close at BRL15.19 on Monday. Eneva said it plans to use the proceeds to pay for part of the acquisition of power plant operator

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