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Enel Americas offers new shares under preemptive rights offering


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Enel Americas offers new shares under preemptive rights offering

Enel Américas SA on Aug. 6 launched a subsequent rights offering to issue 504,945,557 remaining new common shares to subscribers of record, as of July 31, under its preemptive share rights offering.

The Enel SpA subsidiary issued 18,224,843,129 new common shares, including 1,258,213,800 new shares in the form of 25,164,276 new American Depositary Shares, or ADSs, representing approximately 97.3% of new shares, offered for subscription through the distribution of transferable preemptive share rights and transferable preemptive ADS rights.

Holders will be entitled to receive 0.0277 new transferrable share rights to purchase unsubscribed shares for each new share subscribed in the preemptive rights offerings, at the price of 16.21 cents.

One full additional share right is required to subscribe for one new share of common stock at the share subscription price. The company will accept subscriptions for whole shares only, according to an Aug. 6 news release.

Citibank NA will distribute new transferable ADS rights to purchase new ADSs. The new subscribers will be entitled to receive approximately 0.027706 additional ADS rights for each new ADS subscribed, at the price of $8.31 per new ADS.

The offering is valid until Aug. 23, the company said. The rights will be traded on New York Stock Exchange under the symbol ENIA RT.