RIO DE JANEIRO, June 11 — Brazil’s government on Thursday night moved forward with its bid to privatize Eletrobras, Latin America’s largest utility, as the share offering through which its stake in the company is set to be diluted was priced.
If a greenshoe option aimed at price stabilisation is fully exercised, the offering increases by 15 per cent and the total amount goes up to 33.68 billion reais . A source said the demand for the deal, Brazil’s largest share offering in 12 years, was above US$14 billion, with investors including pension funds, state investors, long-only portfolios, hedge funds and retail investors.
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