$EBR:NYSE - ELETROBRAS - Shares running on privatisation rumours

ELETROBRAS is a big fat profitable electricity provider with a Market Capitalization of $15.042B and an EBITDA of $2.461B.

It has had a good run recently and has broken through a $10.50 resistance area. It might need to retest this and confirm its run, but looking good at the moment and might be worth a watch.

Brazil's state-controlled Centrais Eletricas Brasileiras SA, known as Eletrobras, said in a securities filing on Thursday that President Jair Bolsonaro had authorized studies into privatising the power company via a share offering. The company, which is responsible for almost one third of the generational capacity and half of Brazil's power transmission grid, said the privatisation would need to be approved by Congress. Bolsonaro, who was elected last year on an economic platform that included aggressive pro-market reforms and privatisations, met with Eletrobras' Chief Executive Officer Wilson Ferreira Jr on Thursday, sending the company's share price to a record high on hopes it might be privatised.

Centrais Eletricas Brasileiras S.A. (Eletrobras) is a power generation company. The Company operates in the generation, transmission, distribution and trading segments. The Company operates through various companies, including Eletrobras holding, CGTEE, Chesf, Eletronorte, Eletronuclear, Eletrosul, Furnas, Amazonas Energia, Distribuicao Acre, Distribuicao Alagoas, Distribuicao Piaui, Distribuicao Rondonia, Distribuicao Roraima and half the capital of Itaipu Binacional. The Company has a total installed capacity for generation of over 44,150 megawatts. It has a nationwide network of transmission lines of approximately 60,500 kilometers in length. The Eletrobras Eletrosul's Megawatt Solar Plant has over 4,000 photovoltaic panels, totaling an area of approximately 8,300 square meters. The Eletrobras Eletrosul's Megawatt Solar Plant has an installed capacity of approximately one megawatt-peak (MWp), and the Megawatt Solar Plant can produce approximately 1.2 gigawatt hour (GWh).