EEB Sets FO Terms

Empresa de Energia de Bogota is looking to raise COP700bn ($364m) through an equity follow-on, with plans to sell 538.5m shares at COP1,300 each. The Colombian utility has not yet indicated when it will begin the sale period, as it is still awaiting final regulatory approval. The per share price represents a 7.14% discount to Friday’s COP1,400 close, and comes at a 10.65% discount to the COP1,455 level that EEB says is the average price over the last 3 months. EEB plans to use the proceeds from the offering to fund its expansion plans. Corredores Asociados is lead manager.