By Carolina Mandl
SAO PAULO (Reuters) - Brazilian power company Light SA (SA:LIGT3) 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 (SA:CMIG4), 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 (SA:ITUB4), Banco Santander (MC:SAN) Brasil SA (SA:SANB11), Citigroup Inc (N:C), Banco BTG Pactual SA (SA:BPAC3), XP Investimentos SA, Banco Bradesco SA (SA:BBDC4) and Banco do Brasil SA (SA:BBAS3) managed the offering.