Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Brazil's Copel to launch privatization offering of up to $1 billion

Published 07/25/2023, 01:49 PM
Updated 07/25/2023, 01:51 PM
© Reuters. Pylons of high-tension electricity power lines are seen during sunset in Brasilia, Brazil June 6, 2022. REUTERS/Ueslei Marcelino
MS
-

SAO PAULO (Reuters) - Brazilian electric utility Copel is planning to launch a public share offering between Tuesday and Wednesday of up to 5 billion reais ($1.05 billion) to take the firm private, it said on Tuesday.

The offering will amount to between 4.3 billion reais and 5 billion reais based on Monday's closing price and considers the sale of part of Parana state's stake in the firm and the sale of new shares, Copel said.

Copel added that the offering is still subject to market conditions.

The deal is also pending the definition of some conditions by authorities, such as the minimum price of the offering, established by Parana State audit court.

BTG Pactual, Bradesco BBI, Morgan Stanley (NYSE:MS), and UBS Brasil are managing the offering.

($1 = 4.7491 reais)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.