2 stories mentioning BAK
Every FINWIRES story that references BAK, newest first.
Braskem (BAK) shares rose 26% on Tuesday after JPMorgan upgraded the stock to overweight from neutral with a price target of $5.50 per share.Trading volume stood at nearly 7.3 million shares compared with a daily average of close to 2.7 million.Price: $4.80, Change: $+1.00, Percent Change: +26.26%
Braskem (BAK) said it received notice that Novonor and its unit NSP Investimentos entered into a judicial agreement to sell their controlling stake in the petrochemical producer to the IG4-advised Shine I FIP fund, according to a Monday regulatory filing.Under the agreement, Shine I FIP will acquire 226.3 million common shares and 47.3 million class A preferred shares, representing about 50.1% of Braskem's voting capital and 34.3% of its total share capital, the filing said. NSP Investimentos will retain 31.9 million class A preferred shares, equal to about 4% of Braskem's total capital.The transaction remains subject to several conditions, including required judicial approvals, remaining regulatory clearances, and confirmation that Petrobras (PBR) will not exercise its preemptive or tag-along rights under the shareholders' agreement, the filing said.Price: $3.65, Change: $+0.08, Percent Change: +2.10%