Subsidiaries Energisa Mato Grosso and Rede Energia approve capital increase through subscription
On September 22 the Board of Directors of Energisa Mato Grosso approved a capital increase in the amount of R$ 350.8 million with an issue price per share of R$ 8.24. The capital increase will be through an issuance of 42.6 million shares, including 14.7 million common shares and 27.9 million preferred shares. Following the capital increase, the companys share capital will be of R$ 1.47 billion. Shareholders will have a pre-emptive subscription right from September 28 and a period of 30 days to exercise their right.
Energisa subsidiary Rede Energia will also carry out a capital increase, of R$ 531.6 million, through an issuance of 343.0 million shares at an issue price of R$ 1.55.
Both capital increases are intended to strengthen the capital structure of the companies to support the needed modernization and expansion of their electric power distribution operations.