Brazil’s Eletrobras announces 7.75 billion reais capital raising via private placement

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FILE PHOTO: The logo of Brazil’s power company Eletrobras is seen in Rio de Janeiro, Brazil January 3, 2019. REUTERS/Pilar Olivares

December 31, 2019

BRASILIA (Reuters) – Brazil’s Centrais Eletricas Brasileiras SA <ELET6.SA> has completed a capital increase of 7.75 billion reais ($1.93 billion) via private placement, the state-run utility said in a securities filing.

New common shares were issued at 35.72 reais and new class “B” preferred shares at 37.50 reais, according to the filing late on Monday.

The total raised represents 77.6% of the maximum 9.99 billion reais approved at an extraordinary general meeting in November.

($1 = 4.02 reais)

(Reporting by Jamie McGeever; editing by Jason Neely)

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