Bradespar approves share bonus and may deliver R$5.26 billion to shareholders in Vale shares; XP sees news as positive

The night before (14), Bradespar (BRAP4) informed in a material fact the approval of a stock bonus program, through the capitalization of the profit reserve. There will be an increase in the capital stock from R$4.1 billion to R$5.76 billion, or R$1.660 billion.

The company, the holding of Vale (VALE3), points out that the bonus operation aims to increase the liquidity of the shares through a greater number of outstanding shares and to adjust the share price, making them more attractive and accessible to a greater number of investors.

In addition, Bradespar also announced the convening of an Extraordinary General Meeting (AGE) to vote on a further reduction of its capital, scheduled for October 15th. The proposal consists in reducing the capital stock from R$ 5.76 billion to R$ 500.124 million (a reduction of R$ 5.26 billion), without canceling shares.

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If approved, the reduction of R$5.26 billion will be implemented with the delivery of Vale’s common shares to Bradespar’s shareholders.

In a report, XP analysts Yuri Pereira and Thales Carmo point out that, according to Quantum data for the closing of September 14, Bradespar has a 5.73% stake in Vale, valued at R$ 27.6 billion.

With the approval of the capital reduction, Bradespar estimates that the participation in the mining company will fall to around 3.23%.

In addition, the company informed that, if the financial statements of June 30 were considered, the estimated proportion would be 0.31390978 share of Vale for each share issued by Bradespar.

“We see the news as positive for Bradespar, as there is room for an additional closure of the holding discount, which is currently around 20%,” analysts point out.

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