SAO PAULO, July 26 (Reuters) - Energisa SA priced on Tuesday an offering of new stock near the upper end of a suggested range, signaling a stronger industry outlook will bolster plans by Brazil’s No. 6 power distributor to cut debt.
According to data obtained from securities industry watchdog CVM, Energisa sold 61.5 million units, and placed a combined 22.52 million units in supplementary and additional allotments. The company expected to price the units - comprised of one Energisa common share and four preferred shares - between 16 reais and 20 reais each.
Reuters reported earlier in the day that the offering was to be priced at 18.50 reais, fetching 1.137 billion reais ($348 million) in primary proceeds, that is excluding supplementary and additional allotments. (Reporting by Guillermo Parra-Bernal; Editing by Bernard Orr)