The actions of Omega Energy (MEGA3) shot up 17%, at R$ 11.94, around 11 am on Tuesday (28), after the news that Actis, a private equitywill have a stake in the company.
Actis will buy at least 10% of the actions of Omega on the market, at a price of R$ 10.18 – the total transaction is equivalent to R$ 580 million.
If it is unable to achieve this share, the private equity has the option to buy up to 10% of the shares of Omega from the controlling shareholder Tarpon, but at a price of R$ 13.50.
Actis will be able to appoint two members to the list of controlling shareholders, when it reaches Omega’s 10% stake.
In addition, the energy company may require Actis to subscribe for a capital increase of up to BRL 850 million (15% of current market value) at a price of up to BRL 16.00 per share, in the period between October 2022 and March 2023.
Impact on governance
O Bradesco BBI highlighted a positive impact on the company’s corporate governance, as Actis is a well-known private equity firm in renewable energy and infrastructure.
Analysts Francisco Navarrete and Ricardo França, who are the analysts for the bank’s report, recall that Omega obtained important financing to continue developing its project schedule.
“[O financiamento] is a critical element in its history as a platform for the growth/consolidation of renewable energy in Brazil”, they explain.
For experts, having a company committed to injecting up to BRL 850 million in capital “helps gain visibility into future growth”.
Bradesco has a neutral recommendation for Omega shares, and a target price of BRL 13.00 for the end of 2022.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
