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Phase one of Enel Americas' capital hike hits 97.3% subscription

The Finis Terrae solar park in Chile. Photo by Enel Green Power (www.enelgreenpower.com).

July 31 (Renewables Now) - Enel Americas SA’s (NYSE:ENIA) capital increase reached 97.3% subscription, raising nearly USD 3 billion (EUR 2.69bn), in the first period of pre-emptive offer.

Italian utility Enel SpA (BIT:ENEL), which controls Chile-based Enel Americas, said in a statement that in this period it subscribed for 10.64 billion newly issued shares for a total amount of USD 1.72 billion.

Overall, about 18.22 billion newly issued Enel Americas shares were subscribed for from a total of 18.73 billion shares offered in the cash call. The offer period ran from June 27 to July 26.

The remaining unexercised pre-emptive rights will be offered over a period of 24 days beginning on August 6, 2019, to shareholders which subscribed for newly issued shares during the first period.

The capital hike was approved by the company’s shareholders at the end of April. It will bolster the financial position of Enel Americas so it could pursue new opportunities for organic and inorganic growth, optimise cash flows and improve its debt level.

(USD 1.0 = EUR 0.897)

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