Telefonica Brasil Announces Pricing of Equity Offering

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Go back to Telefonica Brasil Announces Pricing of Equity Offering

Telefonica Brasil (VIV) Prices $5.38B Preferred ADS Offering

April 28, 2015 8:48 AM EDT

Telefonica Brasil (NYSE: VIV) announced the pricing of the previously announced global offering of 236,803,588 preferred shares, including 29,591,758 preferred shares in the form of American Depositary Shares ("ADSs"), each of which represents one preferred share of Telefonica Brasil. The preferred shares were offered at a price of R$47.00 per preferred share or US$16.08 per ADS. Telefonica Brasil has granted the international and Brazilian underwriters the option, exercisable until May 7, 2015, to purchase up to 6,282,660 additional preferred shares at the public offering price. The global offering is expected... More