Semapa reduces to less than 55% stake in Portucel to … – Jornal de Negócios – Portugal

Semapa reduces to less than 55% stake in Portucel the OPT have 100% success

Semapa will increase the number of shares of Portucel in exchange, under a public exchange offer (OPT), which should lead to the Semapa stock removal, and will hold less than 55% of Portucel.

Semapa currently holds more than 75% of Portucel, and handling over 582 million shares, a position that should be reduced to less than 55% after the operation announced this Monday, May 25.

Semapa said in a statement the launch of a tender offer (OPA), the exchange offer modality. At issue is the purchase of Semapa shares that are in stock (not owned by Sodim Peter Queiroz Pereira) and the offer of Portucel shares in return.

With this operation, Semapa shareholders will receive 3.40 shares in Portucel for each security held. Considering that Semapa want to buy 48,460,000 of own shares, offering 3.40 of Portucel titles each, the company led by Pedro Queiroz Pereira will have to release 164 770 000 titles of Portucel, which is 21 5% of the capital of the latter.

Taking the 164.77 million of the total of Portucel shares held by Semapa shares, the latter will be just over 417 million shares, corresponding to 54 4% of Portucel.

Once you enter into bag over 21.5% of Portucel shares, if the operation is successful at 100%, this company will have 39.1% of its capital stock available for trading, since it already has 17.6% of its capital in “free float”.

There are still 6.58% of Portucel which is in the portfolio (treasury shares ), according to the shareholder structure of the company.