ISA Energia Brasil SA confirmed a follow-on offering that could raise up to R$ 1.2 billion, almost double what was previously expected. The company made 44,444,444 preferred shares available to the market at a unit price of R$ 27.
The share price represents a 5.3% discount compared to the closing price on Thursday, July 23, when the stock closed at R$ 28.50. The discount is 7.69% when compared to the price of R$ 29.25 on the eve of the offer announcement, July 14.
Intended exclusively for professional investors in Brazil and abroad, current shareholders have priority rights to subscribe in proportion to their shareholdings in the company's capital.
The offer is conditional upon approval of the new authorized capital limit at an Extraordinary General Meeting (EGM) scheduled for this Friday, July 24, 2026.
If approval is not granted, the offering will be canceled and all subscription requests and investment intentions will be automatically voided. The offering is being coordinated by BTG Pactual, in conjunction with Bank of America, Banco BBI, and Itaú BBA.
ISA Energia, which operates in the electricity transmission segment, has been seeking to expand its capital structure to support investments in the Brazilian energy sector. The company says that among the businesses that can be served with the capitalization resources are projects for the expansion and reinforcement of energy transmission infrastructure.
The company, controlled by the Colombian firm ISA, has distinguished itself in the national market and has been reinforcing its presence with projects involving the expansion of the transmission network.
In recent years, the Brazilian electricity sector has seen significant activity in fundraising and follow-on offerings. Companies such as Taesa and Engie Brasil have also carried out capital increase operations to finance projects for the expansion and modernization of their networks.
Taesa, for example, raised funds through a follow-on offering for investments in transmission lines, while Engie Brasil carried out a subsequent offering to strengthen its generation and transmission portfolio.
ISA Energia Brasil's offering comes at a time when the energy sector is seeking to expand its capacity and modernize its infrastructure to meet growing demand and sustainability goals. The company's capitalization could help accelerate investments in strategic projects aligned with market needs.
