Edenor Files In US, Argentina For Share Offering

Argentine electricity distributor Edenor has filed with US Securities and Exchange Commission to raise up to $180 million via an initial share offering. Edenor plans to issue ADS, where each ADS represents 20 common Class B shares. The company will also issue common shares simultaneously in Argentina, according to a filing with local market regulator, CNV. Citigroup and JPMorgan are coordinating the transaction. The company said proceeds would be used to buy back debt, capital expenditure and general corporate purposes.