Light Plans Share Buyback

Brazilian power generation and distribution company Light is planning on buying back up to 6.6m shares for its employee stock options plan. The amount represents 6.73% of the company’s public float and 3.23% of the company’s total ordinary share count. At Light’s Monday closing price of BRL24.79, the buyback would be valued at BRL163.6m. Light shares closed up 0.65% Monday. Ativa, BTG Pactual, Credit Suisse, Morgan Stanley and JPMorgan are the brokers handling the repurchase.