Brazil power firm Light prices offering at 18.75 reais per share: sources
SAO PAULO (Reuters) – Brazilian power company Light SA (LIGT3.SA) priced its shares at 18.75 reais ($4.99) per share in a primary and secondary offering that raised 2.5 billion reais ($665.57 million), two sources with knowledge of the matter said.
Light was seeking to raise money through the share offering to reduce debt, while shareholder Companhia Energetica de Minas Gerais (CMIG4.SA), known as Cemig, wanted to sell a stake in the company. Reuters reported earlier this month that Light was preparing a share offering.
Cemig sold 33.3 million shares in the offering, while Light issued and sold 100 million new shares.
The investment banking units of Itau Unibanco Holding SA (ITUB4.SA), Banco Santander Brasil SA (SANB11.SA), Citigroup Inc (C.N), Banco BTG Pactual SA (BPAC3.SA), XP Investimentos SA, Banco Bradesco SA (BBDC4.SA) and Banco do Brasil SA (BBAS3.SA) managed the offering.
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