USD240m Copasa share sale boosts liquidity
- From: Vol 9, Issue 5 (May 2008)
- Category: General
- Region: Americas
- Country:
- Related Companies: Citigroup and Copasa
Two of Copasa’s major shareholders liquidated their stakes in the company on 24 April. Was it worth waiting seven months for?
The Minas Gerais state water company Copasa completed its secondary public share offering on 24 April, three months after it was postponed owing to adverse market conditions. The sale raised BRL400 million (USD241 million) for selling shareholders Codemig and Belo Horizonte City Council, at a price of BRL24.50 (USD14.77) per share, a slight discount to the market price ...
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