Enel Américas Announces Launch of its Subsequent Rights Offerings in Connection with Capital Increase

SANTIAGO, Chile, Aug. 6, 2019 /PRNewswire/ -- ENEL AMÉRICAS S.A. (NYSE: ENIA) today announced the launch of the subsequent rights offerings in connection with the capital increase approved by the company's shareholders on April 30, 2019. Pursuant to the capital increase and the statutory preemptive rights offerings that were completed at the end of July 2019, the company issued an aggregate of 18,224,843,129 new shares of its common stock (including 1,258,213,800 new shares in the form of 25,164,276 new ADSs), representing approximately 97.3% of the 18,729,788,686 new shares of common stock offered for subscription through the distribution of transferable preemptive share rights ("Preemptive Share Rights") and transferable preemptive ADS rights ("Preemptive ADS Rights") to its shareholders and ADS holders, respectively. The company is authorized to offer the 504,945,557 new shares of common stock remaining unsubscribed (the "Unsubscribed Shares) only to those holders who exercised their Preemptive Share Rights and subscribed for new shares of its common stock in the statutory preemptive rights offering and who were holders of record of its common stock as of 11:59 p.m. (Santiago, Chile time) on July 31, 2019, the fifth Chilean business day immediately preceding the commencement of the subsequent share rights offering in respect to shares in Chile ("Subscribing Holders"). Subscribing Holders will be entitled to receive 0.0277064418840738 new transferrable share rights ("Additional Share Rights") to purchase Unsubscribed Shares for each new share of its common stock subscribed in the statutory preemptive rights offerings, at the same subscription price of US$0.162108214203236 per new share as in the statutory preemptive rights offerings. One full Additional Share Right is required to subscribe for one new share of its common stock at the share subscription price. Enel Américas will only accept subscriptions for whole shares of its common stock and will not issue fractional shares or cash in lieu of fractional shares. The subscription period for the Additional Share Rights begins on August 6, 2019 and will end on August 29, 2019.

Citibank, N.A., as the depositary for the company's American Depositary Shares, or ADSs, will distribute to those holders of Preemptive ADS Rights who exercised their Preemptive ADS Rights and subscribed for new ADSs in the statutory preemptive rights offerings ("Subscribing ADS Holders") new transferable ADS rights to purchase new ADSs ("Additional ADS Rights"). Subscribing ADS Holders will be entitled to receive approximately 0.027706 Additional ADS Rights for each new ADS subscribed in statutory preemptive rights offerings, at the same subscription price of US$8.31 per new ADS (which includes ADS rights agent fees of US$0.20 per new ADS subscribed), as in the statutory preemptive rights offering. Fractional Additional ADS Rights will not be distributed, and any fractional entitlement to Additional ADS Rights will be aggregated and sold by Citibank, N.A. and the proceeds distributed to holders otherwise entitled to a fractional Additional ADS Right. The Additional ADS Rights subscription period will begin on August 7, 2019 and will end at 2:15 p.m. (New York City time) on August 23, 2019. One full Additional ADS Right is required to subscribe for one new ADS at the ADS subscription price.

The Additional ADS rights are expected to trade on the New York Stock Exchange under the symbol "ENIA RT". Trading of the Additional ADS Rights is expected to commence on August 7, 2019, subject to the Additional ADS Rights being "in-the-money" at the commencement of trading, and end after the close of trading on August 20, 2019. Holders of ADSs who want to sell their Additional ADS rights must instruct Citibank, N.A., as ADS rights agent, to sell such rights prior to 5:00 p.m. (New York City time) on August 16, 2019.

To the extent shares offered in the subsequent rights offering are not fully subscribed and paid, the Board of Directors of the company has the authority to offer those shares to shareholders or other third parties in Chile in transactions on the Chilean stock exchanges on terms and conditions different than in the rights offerings, provided, however, that the offering may not commence until 30 days after the end of the statutory preemptive rights offering period.

The shares of Enel Américas common stock to be offered in the rights offerings have been registered in Chile with the Financial Market Commission, or the CMF. A registration statement on Form F‑3 relating to these securities offered in the United States in the rights offerings and the prospectus supplements to the prospectus contained in such registration statement have been previously filed with the U.S. Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and does not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful, 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 such state or jurisdiction.

Contact Information

For further information, please contact:

Investor Relations Department
Email: [email protected] 
Tel. +56 2 2353 4400
Address: Santa Rosa 76, Santiago, Chile

SOURCE Enel Américas

Related Links

https://www.eneldistribucion.cl

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