Brazil’s Eletrobras plans to file share offering requests in Q2

oil-rig WEST AFRICA

Brazil state-run power company Eletrobras said on Tuesday it intends to file requests for a global share offer with the U.S. Securities and Exchange Commission and Brazilian securities regulator CVM in the second quarter.

The company said it will issue ordinary shares on the Bovespa stock market and American Depositary Receipts in the United States, in a move that is part of its privatization process.

Last week, Brazilian state development bank BNDES announced that the capitalization offer for Eletrobras to be privatized is expected to happen by mid-March, while pricing is seen occurring in April.

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