EDP EDP Energias DE Portugal SA

By Patricia Kowsmann

Portugal's government said Thursday that it will raise 356.1 million euros ($455.4 million) from the sale of its remaining 4.1% stake in EDP-Energias de Portugal SA (EDP.LB).

The government launched a private offer for institutional investors earlier Thursday, with Morgan Stanley and Portugal's Caixa Geral de Depositos as bookrunners.

It sold 151.5 million shares at EUR2.35, according to a statement, below the market value of EUR2.422 a share before trading was suspended early morning.

Portugal sold a 21% stake in EDP in late 2011 to China's Three Gorges Corp. as part of a requirement under its international bailout.

Write to Patricia Kowsmann at patricia.kowsmann@dowjones.com

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