EDP ​​completes capital increase of 1,02 billion, with demand for 256% of the offer

The operation was launched on July 15 to help the company buy the Spanish Viesgo without increasing the level of indebtedness. Meanwhile, EDP's two largest shareholders, China Three Gorges and Spain's Oppidum, which own 21,37% and 7,19%, respectively, had already announced that they would accompany the increase.

Cristina Bernardo

EDP ​​Energias de Portugal announced this Friday that the capital increase of 1,02 billion, launched to help finance the purchase of the Spanish company Viesgo, was fully subscribed, with total demand representing 256% of the offer.

“In the exercise of subscription rights, 289,87 million shares were proportionally subscribed, representing approximately 93,8% of the total new shares to be issued within the scope of this offer, with 19.270.341 new shares being available for apportionment ”, Informed EDP in a statement published on the CMVM website.

Supplementary orders for shares subject to apportionment totaled 501, 56, million shares, exceeding about 26 times the amount available for the purpose, he said. "

"Thus, the total demand registered in the current capital increase represented around 256% of the amount of the offer", he added. "The capital increase was thus fully subscribed corresponding to a financial inflow of 1,02 billion euros".

Energy shares fall this Thursday at 13:37 pm 0,86% to 4,372 euros each, in a session in which the PSI 20 index loses 0,14%.

EDP ​​announced on July 15 the purchase of the Spanish electric Viesgo, valued at 2,7 billion euros, including 1,1 billion of debt. On the same day, the Portuguese company presented a capital increase operation of 1,02 billion euros, through the sale of 309,14 million shares, to help finance the operation without taking on more debt.

The new shares are offered directly to the shareholders' subscription, in the exercise of their preemptive rights, at the subscription price of 3,30 euros per share. Each EDP share held until the close of July 20 was assigned a subscription right. The number of shares to be subscribed in the exercise of such rights results from the application of the factor 0,085035375 to the number of subscription rights held at the time of subscription, with rounding by default.

China Three Gorges, EDP's largest shareholder with 21,37%, announced on Wednesday that it paid 220 million euros to buy more than 66 million shares in the Portuguese electric company, in order to accompany the capital increase. Spanish Oppidum, the second largest shareholder with 7,19%, also announced that it has invested more than 70 million euros in the capital increase of the electric company.

There was also a negotiation of these subscription rights, which lasted between 23 July and 3 August. In the general reckoning of the eight trading sessions at Euronext Lisbon, the evolution of the price of rights was negative, falling 8,31% from the opening of 0,1059 euros on 23 July until the closing of 0,0971 euros this Monday .

EDP ​​said this Friday that the apportionment process among all subscribers who expressed an interest in subscribing to a number of shares higher than that to which they would be proportionally entitled gave rise to
successive iterations, assigning shares in compliance with the proportion of the value of the respective subscriptions, with rounding by default.

"The financial settlement of the new shares subscribed in the exercise of the subscription rights occurs on the present date and the financial settlement of the New Shares allocated in apportionment should take place on August 11, 2020", he added.

“It is further informed that EDP requested Euronext Lisbon - Sociedade Gestora de Mercados Regulamentados, SA to admit all the New Shares to trading on the Regulated Market Euronext Lisbon, and it is expected that it will take place on August 17, 2020 or on approximate date, after the commercial registration of the capital increase with the Commercial Registry Office ”.

[Updated at 13:33 am]

Read more

Related

Miguel Stilwell: "Success of the capital increase is even more important in the face of global economic uncertainty"

EDP ​​today announced the results of the capital increase operation, with demand exceeding supply by 256%. EDP's two largest shareholders were at stake and their participation remained unchanged.

China Three Gorges pays 220 million and follows EDP's capital increase

“In the context of the capital increase for which shareholders are granted subscription rights, the member of the General Supervisory Board China Three Gorges (Europe), SA (“ CTGE ”) informed EDP that he has chosen to exercise the respective rights”, can be read in the statement sent today by EDP to the Securities Market Commission (CMVM).

EDP ​​rights soar 12,65% in final race, but down 8,3% in eight sessions

In total, there were 55.778 transactions, with a total value of 46,94 million euros with 502,13 million rights to change hands.

EDP: Everything you need to know about the XNUMX billion capital increase

The capital increase operation starts today, as it is the last day on which the shares negotiate with the incorporated rights. Shareholders are obliged to participate, otherwise their position is diluted.
Recommended

Port of Sines integrates the largest Iberian event on natural gas

According to those in charge of the Alentejo port, this congress "aims to discuss topics related to natural gas and renewable gases, seeking to find answers to the current challenges in the transport sector".

"It is mandatory to insist on the objectives of the European Ecological Pact", says Secretary of State for the Environment

Inês dos Santos Costa said this Wednesday that political and business decision makers, scientists and students have a responsibility to defend an environmentally responsible and socially inclusive economic model. Statements made at the 'Portugal Smart Cities Summit 2020, which runs until Thursday at the Lisbon Congress Center and which has Jornal Económico as a media partner.

ERSE guarantees to be available to help “overcome all barriers” in the transition to clean energy

The Director of Infrastructure and Networks of the Energy Services Regulatory Authority considers that innovation allows to guarantee “security of supply, competition and the sustainability of the planet through decarbonisation”. Margarida Ramires, one of those responsible for the law that created collective self-consumption and energy communities, called for agricultural units to rethink how to consume energy.
Comments