This Friday (20), Americanas closed the day with the share worth R$ 0.71, in yet another day of low shares, today 29%. This was the retailer’s last trading session on the Ibovespa. The accumulated loss this week is 79.05% and, in the month, 89.64%. Despite the fall in the retailer’s shares, the main B3 index ended the week accumulating a rise of 1.16%.
In the last trading session before the announcement about the BRL 20 billion hole in the company’s accounting, the share closed quoted at BRL 12.
The B3, the Brazilian stock exchange, informed on Thursday (19) that it was excluding Americanas bonds (AMER3) from all its indices as of Friday (20), including those of the ISE B3 portfolio, which refer to to ESG practices.
According to B3, the exclusion was due to the request for judicial recovery made by the company this Thursday, and includes, in addition to the ISE, the indices: IBOV, IGCX, ICO2, ICON, IBXX, IGCT, IGNM, IBRA, IVBX , ISEE, ITAG, SMLL, IBXL and GPTW.
According to experts consulted by the CNN , Americanas shares will continue to be traded on the stock exchange. What changes is that they will no longer be part of the Ibovespa or other indices after today’s trading session.
Last Thursday (19), the company filed for judicial recovery, which was accepted by the court on the same day.
Judicial recovery
Americanas filed for bankruptcy protection, with debts of R$ 43 billion involving financial, labor and supplier creditors. Judicial recovery is a truce that the company asks the Court not to pay its debts while trying to recover. The only creditor left out was the BTG bank, because it obtained an injunction in court.
After filing for bankruptcy, Americanas will need to present a recovery plan for its business, which usually involves asset sales and a heavy debt discount. Banks will have to provision for losses on their balance sheets, which will affect profitability. In addition to BTG, the main creditors are Bradesco, Safra, Banco do Brasil, among others.
After the request, investors who have Americanas debentures, which are the company’s debt securities traded in the financial market, tried to sell their shares at any price.
The company’s debentures that were issued in 2020, for example, offering at the time as remuneration the variation of the IPCA plus interest of 7.4% per year, were being offered this afternoon in the secondary market with interest of up to 109% in addition to the IPCA, he said. The CNN the fixed income analyst at Genial Investimentos Rafael Siqueira.
The bond price, in turn, which was BRL 1,000 at issue, in 2020, was traded on Thursday morning at BRL 280.
If we consider that the security would be formally worth R$ 1,232 today – which is how much the owner of the security would be entitled to receive for it if it were paid now with the additional interest – the discount that was being offered is more than 80% .
Source: CNN Brasil
A journalist with over 7 years of experience in the news industry, currently working at World Stock Market as an author for the Entertainment section and also contributing to the Economics or finance section on a part-time basis. Has a passion for Entertainment and fashion topics, and has put in a lot of research and effort to provide accurate information to readers.
