Did you use FGTS to invest in Eletrobras? See how the apportionment will work

Workers who have invested part of the balance they have in the FGTS (Fundo de Garantia do Tempo de Serviço) in Eletrobras shares will be able to invest 66.79% of the amount initially reserved to buy shares in the company.

As part of its privatization process, the largest electric company in Latin America has priced the unit value of its common shares at R$42.

The amount handled in the operation was R$ 29.29 billion, according to a notice to the market published this Friday (10) on the CVM (Securities Commission) page.

Of this amount, R$ 6 billion was reserved for all workers who were interested in allocating part of the balance of their FGTS accounts to buy shares in the company. Market participants, however, say that demand from these investors was close to R$9 billion.

The final prospectus of the Eletrobras public offering informs that there will be a proportional apportionment between these investors in relation to the value of the orders, with each one having allocated 66.79% of their respective order.

In other words, a worker who has set aside BRL 10,000 to buy Eletrobras shares will be able to effectively invest BRL 6,679 in the company, according to a technician from a government agency accompanying the process. See simulations made by Sheet with other values, in reais:

The permission to reserve shares with resources from the Guarantee Fund ended last Wednesday (8).

Workers who consult the FGTS application will be able to verify, according to this technician, that the percentage is already blocked to be applied in the company from next Tuesday (14), for when the settlement of the offer is scheduled.

The amounts not used in the application will be unlocked, informed Caixa Econômica Federal, which is the manager of the FGTS.

Workers who have questions should access Caixa’s official channels, such as telephone 4004-0104, for capitals and metropolitan regions, and 0800 104 0104 in other regions.