Portuguese Government Raises EUR356.1 Million From EDP Stake Sale
14 Februar 2013 - 4:26PM
Dow Jones News
By Patricia Kowsmann
Portugal's government said Thursday that it will raise 356.1
million euros ($455.4 million) from the sale of its remaining 4.1%
stake in EDP-Energias de Portugal SA (EDP.LB).
The government launched a private offer for institutional
investors earlier Thursday, with Morgan Stanley and Portugal's
Caixa Geral de Depositos as bookrunners.
It sold 151.5 million shares at EUR2.35, according to a
statement, below the market value of EUR2.422 a share before
trading was suspended early morning.
Portugal sold a 21% stake in EDP in late 2011 to China's Three
Gorges Corp. as part of a requirement under its international
bailout.
Write to Patricia Kowsmann at patricia.kowsmann@dowjones.com
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