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The share offering is expected to dilute the state’s stake in Eletrobras to at least 45%. The government hopes to raise 50 billion reais ($8.86 billion) with the transaction, which should happen in early 2022.
Centrais Eletricas Brasileiras SA, as the company is formally known, said the hiring process is ongoing and final approval is pending.
On Friday, the company said it has preselected the banks to be bookrunners for the share offering: Bradesco BBI, Caixa Economica Federal, Citi, Credit Suisse (SIX:CSGN), JP Morgan, Morgan Stanley (NYSE:MS) and Safra.
($1 = 5.6459 reais)
