White & Case Advises International Placement Agents on Light S.A.'s R$2.5 Billion Share Offering

Global law firm White & Case LLP has advised the international placement agents in the R$2.5 billion primary share sale offering by leading Brazilian energy company Light S.A. and secondary share sale by Companhia Energética de Minas Gerais (CEMIG).

The offering consisted of an aggregate of 133,333,333 shares of common stock at a price per share of R$18.75. The common shares are listed on the Novo Mercado segment of the São Paulo Stock Exchange (B3 S.A. – Brasil, Bolsa, Balcão), or the B3, under the symbol "LIGT3."

The international placement agents included Itau BBA USA Securities, Inc., Citigroup Global Markets Inc., Santander Investment Securities Inc., Banco do Brasil Securities LLC, Bradesco Securities, Inc., BTG Pactual US Capital, LLC and XP Securities LLC.

Light S.A. supplies electricity to more than four million customers in 31 municipalities in the state of Rio de Janeiro.

The White & Case team was led by partners John Guzman and Donald Baker (both São Paulo) and included associates Mariana Seixas and Beatriz Barros (both São Paulo), partner Raymond Simon and associate Kyle Ezzedine (both New York).

In 2019 to-date, White & Case has advised on nine equity offerings by Brazilian issuers with total proceeds exceeding US$6.2 billion.

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