June 27, 2022
PDG (PDGR3) shares jumped more than 60% after the construction company exited judicial reorganization

PDG (PDGR3) shares jumped more than 60% after the construction company exited judicial reorganization

São Paulo – the work of the construction company PDG (PDGR3He has a photo session on B3 on Friday (15). At 11:36 a.m. (Brazilian time), the shares jumped 62.80%, to R$2.67.

The movement is done after the company Getting out of the billionaire bankruptcy reorganization process, It started in 2017, after the group fulfilled its obligations under the restructuring plan.

The company said in material fact that the process allowed PDG to restructure debts of 5.3 billion Brazilian reals owed to 22,000 creditors.

The case was closed by the first bankruptcy court and judicial reorganization in the province of São Paulo on Thursday (14).

The PDG stated that the completion of the judicial reorganization will allow “companies to maintain operational normality on solid foundations, to overcome the crisis” and will provide “conditions for continuing to pay the balance of bankruptcy liability and resuming the growth plan.”

In the first six months of 2021, the company recorded a net loss of R$505 million, increasing its losses by 39.6% compared to the same period in 2020.

The evidence highlighted the news as positive, noting that getting out of the bankruptcy process can help the company comply with its payment plan to creditors and improve its reputation in the financial market.

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