Brazil’s Eneva announces share offering to raise up to $799 mln

(Reuters) – Brazilian energy company Eneva SA (ENEV3.SA) will price on June 24 a follow-on share offering through which it expects to raise up to 4.09 billion reais ($799.22 million) to fund the acquisitions of Celsepar and Cebarra, it said on Thursday.

Eneva will issue 300 million new shares, and the total estimated amount it expects to raise is based on its June 14 closing price of 13.64 reais per share, according to a securities filing.

BTG Pactual, Bank of America, Itau BBA, Bradesco BBI, Citi, JPMorgan, UBS and Santander will manage the offering.

Eneva announced a deal earlier this month to buy Celsepar’s thermal power plant Celse, one of the largest gas-fired thermoelectric plants in operation in Latin America, for 6.1 billion reais.

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