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EDP's Re-privatisation

As a result of Decreto-Lei nº 205 - G/75, de 16 de Abril, that led to the nationalisation of companies which were operating in electricity generation, transmission and distribution at the time, EDP was created in accordance with the provisions of Decreto-Lei nº 502/76, de 30 de Junho, with the merger of the aforementioned companies' assets and the attribution of the exclusive rights for Portugal's mainland public service of electricity generation, transmition and distribution.

 

EDP, which began as a State-owned company, saw its statute successively transformed from a Public Limited Company of exclusively public capital to a Public Limited Company of mainly public capital. Currently it is a Public Limited Company in which the Portuguese State and other Public Entities have a minority shareholding.

EDP's shares were initially listed on the Euronext Lisbon's official securities market (known then as the Lisbon Stock Exchange) on 16 July 1997. The Company later underwent additional re-privatisation phases in 1998, 2000, 2004 and 2005.

On 17 July 2000 a 1-to-5 Stock-split took place as a result of an amendment to the nominal value of the shares representing EDP share capital, from EUR 5 to EUR 1.

In November 2004 EDP went ahead with a capital increase through the public offering of shares, reserved to shareholders, of 656,537,715 new shares with a nominal value nominal of EUR 1 each, at a unit price of EUR 1.84.

 

1st Phase of Re-privatisation / IPO

The first phase of EDP's re-privatisation took place in June 1997, with the transfer of 179,960,000 shares, representing 29.99% of EDP's capital (at the time comprising 600 billion shares with a nominal value of PTE 1,000) and was approve

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2nd Re-privatisation Phase

Direct sale to Iberdrola in May 1998.

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3rd Re-privatisation Phase

EDP's third re-privatisation phase began in June 1998 with the sale of an additional amount of 97,100,000 shares, corresponding to 16.2% of the share capital. The operation was approved by Decreto-Lei nº 94-C/98, de 17 de Abril with the de

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4th Re-privatisation Phase

The fourth phase of EDP’s re-privatisation took place in October 2000, with the Portuguese State selling the equivalent of 20% of the Company’s capital, corresponding to 600 million shares (value after the stock split).

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5th Re-privatisation Phase/Share Capital Increase

The Company's fifth re-privatisation phase, at the end of 2004, was approved by Decreto-Lei nº 218-A/2004, de 25 de Outubro and consisted of a share capital increase to finance the acquisition of an additional participation in HidroCant

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6th Re-privatisation Phase

On 9 December 2005, in accordance with the provisions of Decreto-Lei n.º 209-A/2005, de 2 de Dezembro, Parpública – Participações Públicas (SGPS), S.A., issued a bond exchangeable into existing EDP shares. The issue was placed with inst

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7th Re-privatisation Phase

On 15 November 2007, in accordance with the provisions of Decreto-Lei nº 382/2007, de 5 de Novembro, Parpública – Participações Públicas (SGPS), S.A. approved the issue of a bond exchangeable into existing EDP shares. The issue was place

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