Jan. 22 at 3:36 AM
$BAK said it received notice that a major equity investor has crossed the 5% disclosure threshold in one specific class of its preferred shares, at a time when the company is nearing the conclusion of a long-awaited change of control. Lawyer Victor Adler now holds 5.013% of Braskem’s class B preferred shares following stock-exchange transactions carried out through Jan. 16, according to a market filing.
The position totals 24,000 class B preferred shares and triggered mandatory disclosure under Brazilian securities regulation. The stake, however, is confined to a very small and less liquid segment of Braskem’s capital structure. The company has just 478,790 class B preferred shares outstanding, compared with 451.7 million common shares and 345.1 million class A preferred shares.
