China Three Gorges lowers its stake in EDP’s share capital

Following the EDP’s capital increase of 1 billion, which generated the issue of 218.34 million new shares, the electricity company informed the market on the 14th of March that its major shareholder, China Three Gorges, subscribed 45,755,458 shares representing approximately 1.09% of EDP’s share capital.

The Portuguese company said the new shares were subscribed by China Three Gorges at 4.58 euros per share, which represents an investment of 209.6 million euros. With this operation, China Three Gorges sees its position in EDP’s shareholder structure diluted by 0.22%, from 21.08% to 20.861%.

It is recalled that the increase of EDP’s capital took place via an accelerated bookbuilding process (the “ABB”) launched by EDP on the 2nd of March by placing the new shares with China Three Gorges and two new shareholders: the Singaporean sovereign fund and an affiliate of the sovereign fund Abu Dhabi Investment Authority.

(Source: SAPO)