CVM called Americanas to explain the rise in share trading this month – 04/23/2023 – Panel SA

Americanas was asked to explain itself to the CVM (Securities and Exchange Commission), which considered the number of trades and the number of shares traded by the company on April 12, up to 2:22 pm, to be atypical. That day, 16 thousand trades had been registered, which added up to R$ 122 million.

The financial market seems to have responded to the agreement announced on April 11 between the retail chain and financial creditors with which it had been fighting legal disputes since its accounting scandal was made public.

According to Americanas’ financial and investor relations director, Camille Loyo Faria, in response to the CVM, the agreement temporarily suspends the shares “in order to allow the parties involved to focus their efforts on negotiating a judicial recovery plan that is acceptable for most of the Company’s creditors and that makes Americanas’ operational future possible.”

Faria also told the CVM that the signing of the agreement was disclosed to avoid speculation and inaccurate disclosures.

On April 12, in addition to the trading volume, Americanas shares also appreciated by 22.33% in the period analyzed by the CVM. The retail chain’s shares practically melted since the announcement, in early January, that there were accounting inconsistencies in its balance sheets. Days later, the company filed for bankruptcy.

Joana Cunha with Fernanda Brigatti

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