Edenor Announces Pricing of its Global Offering
April 25 2007 - 10:18PM
PR Newswire (US)
BUENOS AIRES, Argentina, April 25 /PRNewswire-FirstCall/ -- Empresa
Distribuidora y Comercializadora Norte S.A. (NYSE:EDN) (Buenos
Aires Stock Exchange: EDN) ("Edenor") announced today the pricing
of the global offering of its Class B common stock ("Class B
shares") and American depositary shares ("ADSs"). The global
offering included an underwritten offering of 15,164,795 ADSs, all
of which were offered outside of Argentina, of which 3,742,245 were
offered by Edenor and 11,422,550 were offered by selling
shareholders. Each ADS represents 20 Class B shares. The ADSs were
offered at a price of US$17.00 per ADS. The ADS selling
shareholders have also granted the international underwriters the
right for a period of 30 days to purchase up to an additional
2,855,302 ADSs to cover any over-allotments. In addition, Edenor's
Employee Stock Participation Program separately offered 81,208,416
Class B shares in a concurrent offering in Argentina. The shares
were offered at a price of Pesos 2.62 per share. Edenor intends to
use the net proceeds of this offering for the repurchase of debt,
capital expenditures and general corporate purposes. Edenor will
not receive any proceeds from the sale of ADSs or shares by its
shareholders. The ADSs will begin trading on the New York Stock
Exchange under the ticker symbol "EDN" on April 26, 2007. The joint
bookrunners for the ADS offering are Citigroup Global Markets Inc.
and J.P. Morgan Securities Inc. Raymond James is the bookrunner for
the Argentine offering. A registration statement relating to these
securities has been declared effective by the U.S. Securities and
Exchange Commission. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction. The offering of the securities is made
only by means of a prospectus. A copy of the prospectus relating to
the offering may be obtained from J.P. Morgan Securities Inc., 270
Park Avenue, New York NY 10171, Attention: Prospectus Department or
Citigroup Global Markets Inc., 388 Greenwich Street, New York, NY
10013-2357. This press release includes statements concerning
potential future events involving Edenor that could differ
materially from the events that actually occur. The differences
could be caused by a number of factors, including those factors
identified in the prospectus relating to Edenor's offering. Edenor
will not update any forward-looking statements made in this press
release to reflect future events or developments. DATASOURCE:
Empresa Distribuidora y Comercializadora Norte S.A. CONTACT:
i-advize, Corporate Communications, Inc., +1-212-406-3690
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