Eletrobras: reservation for an offer of R$ 30 billion starts next Friday

Company registered a public offering prospectus that should seal its privatization

The start of the reservation period to participate in the subsequent offer (follow-on) that will determine the privatization of electrobras starts next Friday, 3rd. The offer prospectus was released this Friday, 27th.

The offering, which includes the issuance of 627.67 million common shares (ELET3) and the sale of 69.8 million shares currently held by BNDESPAR, could generate around R$30 billion. The offer may still be increased by 104.6 million common shares, which would raise the amount traded to approximately R$35.3 billion.

The pricing of the offer is scheduled for June 9th, with the reservation period going until the previous day, June 8th.

The minimum amount for retail investors to participate directly in the offering was set at R$1,000. But the offer will also be available for indirect participation in which the investor will be able to use FGTS resources through Privatization Mutual Funds-FGTS. In this case, the minimum value for joining the offer will be R$ 200.

The offering will be carried out simultaneously in Brazil and the United States and will have the participation of 12 investment banks. BTG Pactual will be the lead coordinator of the offer. Bank of America, Goldman Sachs, Itaú BBA, XP, Bradesco BBI, Safra, Caixa, Citi, Credit Suisse, JP Morgan and Morgan Stanley were also hired.

Source: Exam