Eletrobras launched this Friday (27) the offering of shares with a view to its privatization, an operation that would move around R$ 30.69 billion based on the closing of the paper the day before, according to a preliminary prospectus delivered to the CVM (Commission of Mobile values).
Eletrobras’ capitalization will be priced on June 9, and the transaction price will be determined based on investor interest.
The indicative value also does not consider the sale of over-allotment shares.
The transaction will involve a primary and secondary offering of common shares carried out simultaneously in Brazil and abroad. The primary offering will initially be for 627,675,340 new shares.
The statement also says that the number of shares in the initial offering may be increased by a supplementary lot of up to 15% of the total shares.
The secondary offering will comprise 69,801,516 shares currently held by the development bank BNDES.
The closing price of the common shares issued by the company on B3 and ADSs, on May 26, was, respectively, R$44 and US$9.23 per ADS represented by ADR, these values ​​being merely indicative, “and may vary more or less, according to the conclusion of the Bookbuilding Procedure”.
With the official launch of the offer to the market, the next steps are the “roadshow” to present the opportunity to investors and the collection of investment intentions, when the market demand for the operation and the final value per share of the offer are effectively determined.
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
