AES Gener Completes $250m Capital Raise

AES Gener has completed a CLP152bn ($249m) capital increase by selling new shares to existing investors. Investors subscribed 938m new shares, or 99.3% of those on offer, at CLP162.52 each. Parent company AES, through its investment vehicle Inversiones Cachagua, acquired 667m of these shares, to maintain its stake at 71.7%. The funds from the increase will partially finance the company’s investment plans, which include 7 new power plants in development, totaling 1,500MW. AES Gener shares closed at CLP208.75 Monday.