Wednesday, July 6

Brazil’s Eletrobras to file for privatization share offering on Friday

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SAO PAULO — Brazilian state-run power company Eletrobras will file a share offering request with the country’s securities and exchange commission on Friday, it said, as it officially launched a privatization bid to be priced on June 9.

Centrais Eletricas Brasileiras SA, as the company is formally known, said the transaction will comprise a primary offering of 627,675,340 new shares and a secondary offering of 69,801,516 shares currently held by state development bank BNDES.

The offering in Brazil may also be increased by 15% through a green shoe option, it added in its securities filing. (Reporting by Gabriel Araujo; Editing by Jan Harvey)