May 3, 2016 / 10:37 AM / 2 years ago

BRIEF-EDP says EDP Energias do Brasil SA approves capital increase of 1.5 bln Brazilian reais

May 3(Reuters) - EDP Energias de Portugal SA :

* EDP says that its 51 percent owned unit EDP Energias do Brasil SA has approved to perform private capital increase of up to 1.5 billion Brazilian reais ($428.5 million), by issuing 130.4 million new ordinary shares

* Says that the share price of the capital increase was fixed at 11.5 reais per share, based on a 6 percent discount over the average price

* Says that it has committed to subscribe the total number of shares it is entitled to, which represents an investment of 765 million reais

* Says that it has expressed its intention to subscribe the remaining shares that may eventually become available in the subsequent share allotment

* Says that capital increase is aimed at strengthening capital structure of EDP - Energias do Brasil SA, reducing financial costs and reinforcing the company’s long-term commitment with the Brazilian market

Source text:

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$1 = 3.5007 Brazilian reais Gdynia Newsroom

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