Petrobras confirmed this Friday (28) the cancellation of the secondary offering of Braskem shares, as anticipated by the Broadcast, Grupo Estado’s real-time news system.
According to the state-owned company, the withdrawal occurred due to the instability of capital market conditions, which resulted, at this moment, in levels of demand and price not appropriate for the conclusion of the transaction.
The state-owned company informs that, together with NSP Investimentos, in Judicial Reorganization, it communicated to the petrochemical company the decision to cancel the public offering of secondary distribution of Shares held by both.
The operation would be carried out simultaneously in Brazil and abroad, in the form of American Depositary Shares, represented by American Depositary Receipts.
Petrobras also informs that the “Term Sheet” entered into with Novonor remains in force, which establishes a commitment for both companies to sell their respective equity interests in Braskem, in addition to establishing guidelines with the objective of migrating Braskem for the New Market.
The state-owned company also ratifies its interest in executing the commitments established in the “Term Sheet”, as soon as possible and to the extent that market conditions prove to be favorable.
Reference: CNN Brasil
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