June 6, 2023
Oi share (OIBR3) may operate as a "small stock" for a longer period after obtaining permission from B3

Oi share (OIBR3) may operate as a “small stock” for a longer period after obtaining permission from B3

In a statement sent to the market on Friday evening (25), Ui (OIBR3;OIBR4) stated that B3 allowed the company to trade its shares in cents for a longer period of time. Last Friday, OIBR3 shares closed at R$0.80, while OIBR4’s assets rose above R$1.00, and closed the last session at R$1.34.

The Company has asked B3 to reconsider to determine the Company’s stock price grading in an amount equal to or greater than R$1 until July 19, 2022 or until the date of the first general meeting to be called after receiving the said letter, whichever comes first.

With the application accepted by the Brazilian stock exchange operator, Oi was informed that the prior letter identification had no effect.

As of March 31 only, a new period for a potential account of 30 uninterrupted trading sessions will begin with the company’s share price below R$1. Proposal to accumulate stocks.

“The company’s request, approved by B3, was based on avoiding any damage to the concerned, in view of (a) the imminence of two widely publicized significant deals: (i) the sale of UPI Ativos Móveis; and (ii) sale of the UPI InfraCo Controller – which will be important catalysts for actions, as they are essential to the company’s long-term sustainability; In addition to (b) the expectations for the conclusion of the judicial reorganization process, which has been extended until the end of March 2022, specifically for the purpose of enabling completion of the procedures for the disposal of said UPIs,” Oi highlighted in a statement.

The Brazilian Stock Exchange states that the stock cannot be priced at less than 1 Brazilian Real for more than 30 trading sessions, and is notified so that it can offer a price adjustment plan.

Even with good news lately for Oi, like approval From selling mobile operation for TIM (TIMS3), Alive (fift 3) and Claro by the Economic Defense Administrative Council (CAED), The company’s shares did not get excited. Analysts highlight the competition that the company must face in the field of fiber optics, the focus after the sale of assets, in addition to noting the large number of individuals on paper, which increases the volatility of the assets.

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