IRB Brasil collapses more than 20% after offering shares at R$1 per share

The shares of IRB Brasil collapsed in the first trades this Friday (2), after pricing a billionaire share offer the day before at R$ 1 per share, which represented a strong discount in relation to the closing price on Thursday (1st). ) .

At 10:24 am, the reinsurer’s shares fell 22.86% to R$1.08, the lowest so far.

The IRB raised BRL 1.2 billion in the sale of shares, the maximum amount provided for in the transaction’s prospectus and which will be used to meet regulatory requirements.

The defined price represented a discount of 28.57% in relation to the closing on Thursday and of 50.25% in relation to the price of the paper when the offer was announced.

For analyst Rodrigo Crespi, from Guide Investimentos, with the value of the operation, the company will be able to adapt to the capital and provision requirements by the regulator, but with a small margin for new investments.

In a comment sent to customers, he considered the outcome of the negative sale of shares, calling attention to the discount in relation to the market price.

Crespi also pointed out that the entry of these new shares at R$1 “may mean a relevant volume of sales to the market, generating an oversold, or even a negative trend of market prices to adjust to the price of the new shares before their effective settlement for investors”.