Engie Brasil Raises $1.7B In Latest Share Offering

Brazil’s largest private electricity producer, Engie Brasil, has successfully raised 8.4 billion reais ($1.66 billion) at a price of 30.50 reais per share in a follow-on share offering, in one of the largest follow-on offerings in the country’s capital market this year, Reuters reported on Wednesday.

The power company intends to use ~$1.13 billion of the capital increase to fund the acquisition of a 40% stake in the Jirau hydroelectric plant from its controlling French shareholder.

The deal effectively brings the 3,750-megawatt Jirau…