Vivara: another 3% of the capital changes hands. Blocks help paper liquidity

2023-05-12 17:25:02

A month and a half following selling 3% of Vivara on the stock exchange, Marcio Kaufman – the company’s former CEO and son of founder Nelson Kaufman – has just sold another block of shares.

Today’s 7 million shares cost BRL 22.81 – a slight premium compared to the BRL 22.73 at which the share traded when the auction began.

The block was organized by brokerage Itaú BBA, which took the deal with a firm guarantee at a 4% discount compared to yesterday’s close. Itaú had also coordinated the previous block, which came out at R$ 21.66.

In today’s trading, more than 10 investors bought the paper, which traded upwards following the auction, now quoted at R$22.94, up 1.5%.

O breakdown of buyers was 70% local and 30% international.

Vivara had been one of the most demanded retail names during Itaú’s conference in New York this week. The company met with more than 30 local and around 20 international investors – which probably helped heat up the auction.

Other retailers demanded names were Arezzo&Co and Grupo Soma.

After today’s block, Marcio still has 7.5% of Vivara’s capital – 2% linked to the shareholders’ agreement and 5.5% free for sale.

The blocks have helped to increase the paper’s liquidity. Since the last block, Vivara’s average daily volume on the Exchange has risen by around 46%, from R$34 million to R$50 million.

Vivara is worth R$5.4 billion on the stock exchange and is trading at 12 times its estimated profit for this year.

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