AES Brasil ponders follow-on stock offering

The Cajuína Wind Complex in Brazil. Source: AES Tiete

September 15 (Renewables Now) - Brazilian energy company AES Brasil Energia SA (BVMF:AESB3) announced on Monday it is studying the possibility of a follow-on share offering.

The company has already started talks with certain financial institutions and its international affiliates to evaluate the feasibility of the move.

The list includes lenders Banco Bradesco BBI SA, Banco Itau BBA SA, Banco de Investimentos Credit Suisse (Brasil) SA, Banco HSBC SA and the local unit of Spain's Banco Santander SA (BME:SAN).

According to a securities filing, AES Brasil is planning on holding a public offering for distribution with restricted efforts to place shares issued by the firm. No official decision on this follow-on share offering has been made so far as it is subject to several matters, such as shareholder approval as well as favourable political, macroeconomic and market conditions.

This potential offering would help the company’s growth and asset diversification, the filing said.

Currently, AES Brasil has a total installed capacity of 4.4 GW, of which 2,658.4 MW comes from hydro, 1,435.9 MW from wind and 294.1 MW from solar assets. The company said is also developing up to 1.5 GW of wind and solar projects.

More stories to explore
Share this story
Newsletter
Tags
 
About the author
Browse all articles from Lucas Morais

Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\