Stocks

Oct 16Bankruptcy & RestructuringStocks

Court Declares Bankruptcy of AJX Capital Over Worthless Bank Certificates

A São Paulo court ordered the bankruptcy of AJX Capital Investimentos, an entity that sold Bank Credit Certificates to retail investors with promises of up to 3.5% monthly returns. The debt instruments were backed by shares of former state lender Besc, which state-controlled Banco do Brasil confirmed have zero commercial value following its 2008 acquisition of Besc.

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• AJX Capital promised monthly yields of up to 3.5% on certificates backed by extinct Besc shares.
• Banco do Brasil, which incorporated Besc in 2008, confirmed the underlying shares have no market value.

Sources:NeoFeed

Oct 15Official filingConsumo CíclicoStocksM&A

BlackRock buys 5.055% stake in Cogna Educação

The asset manager acquired 104,345,370 common shares in Cogna, reaching 5.055% of the total, alongside 6,822,515 cash-settled derivatives equal to 0.331%, according to a filing with the CVM, Brazil's securities regulator. BlackRock stated the holding is purely for investment and will not alter control or management.

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• BlackRock held 104,345,370 ordinary shares in Cogna Educação S.A. on October 9, 2026, reaching a 5.055% stake in total issued ordinary shares.
• The manager holds 6,822,515 cash-settled derivative instruments, representing 0.331% of total ordinary shares issued by the company.
• BlackRock declared the stake is strictly for investment purposes without intent to alter Cogna's control or management, per CVM, Brazil's securities regulator, Resolution 44/2021.

Sources:CVM - Documentos IPE (PDF)

Oct 15Official filingCapital Markets & M&AStocks

C&A Modas refinances debt with R$500 million issuance

The retailer's board approved a three-year issue paying 100% of the DI rate plus up to 0.80% annually, using proceeds to redeem its third debenture series, according to a filing with the CVM, Brazil's securities regulator. The transaction extends maturity to Oct. 15, 2029 while lowering borrowing costs.

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• C&A Modas approved a R$500 million single-series debenture issuance maturing on October 15, 2029, registered with the CVM, Brazil's securities regulator.
• The debentures yield 100% of the DI rate plus a maximum annual spread of 0.80%, backed by a firm placement guarantee.
• The company will use all R$500 million to redeem its 3rd debenture issuance early, lowering debt costs and lengthening maturities.

Sources:CVM - Documentos IPE (PDF)

Oct 15Official filingB3 FilingStocksM&A

SPX cuts Bemobi stake to 0.28% after selling relevant equity holding

The fund manager shed its major position in the tech company, retaining 239,567 common shares out of total equity, according to a B3 filing with the CVM, Brazil's securities regulator. SPX holds no derivatives or voting agreements tied to Bemobi.

• Funds managed by SPX Gestão de Recursos reduced their equity stake in Bemobi to 239,567 common shares, representing approximately 0.28% of total common shares.
• SPX stated to Brazil's securities regulator CVM that its funds hold no other securities or derivative financial instruments referenced to Bemobi shares.
• SPX confirmed there is no agreement regulating voting rights or the purchase and sale of securities issued by Bemobi Mobile Tech S.A.

Sources:CVM - Documentos IPE (PDF)

Oct 15Official filingConsumo CíclicoStocks

CADE approves spin-off of Azzas into two public companies

The antitrust authority approved dividing the fashion group into two independent listed companies under governance agreements between the Birman and Jatahy shareholder blocks, according to a B3 filing with the CVM, Brazil's securities regulator. The ruling takes effect 15 days after official gazette publication, pending board and shareholder votes.

• CADE, Brazil's antitrust authority, approved without restrictions the reorganization of Azzas 2154 S.A. to split its operations into two independent public companies.
• The deal, executed between the Birman and Jatahy groups, remains subject to board and shareholder approval as well as a 15-day waiting period following publication in the official gazette.

Sources:CVM - Documentos IPE (PDF)

Oct 15Official filingB3 FilingStocks

CPFL Energia postpones 3Q26 earnings call to November 16

The power utility moved its 3Q26 results presentation from Nov. 13 to Nov. 16, 2026, according to a market notice sent to the CVM, Brazil's securities regulator. The company noted that the earnings release date itself remains unchanged.

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• CPFL Energia rescheduled its 3Q26 results conference call from November 13, 2026 to November 16, 2026.
• CPFL Energia clarified that the disclosure date of its 3Q26 quarterly financial information will not change.

Sources:CVM - Documentos IPE (PDF)

Oct 15Official filingMateriais BásicosStocks

Irani Sets 3Q26 Earnings Release for Oct 30 and Quiet Period from Oct 15

The paper manufacturer will publish third-quarter results before market open on Oct. 30, 2026, entering a quiet period on Oct. 15, according to a filing with the CVM, Brazil's securities regulator. An interactive webinar in Portuguese, English and Libras will follow at 12:00 BRT.

• Irani will release its third-quarter 2026 earnings before the market opens on October 30, 2026.
• The company scheduled its 3Q26 earnings webinar for October 30, 2026, at 12:00 BRT.
• Irani enters its quiet period on October 15, 2026, lasting until the publication of its 3Q26 results.

Sources:CVM - Documentos IPE (PDF)

Oct 15Legal & RegulatoryStocks

Susep approves removal of IRB-Brasil officer decided in July board vote

The insurance regulator ratified the dismissal of an executive director at IRB-Brasil Resseguros, enacting a resolution passed during a board meeting on July 31, 2026, according to Ordinance 230 published by Susep, Brazil's insurance regulator.

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• Ordinance CGAUT/SUSEP 230 took effect upon its official gazette publication on Oct. 14, 2026.
• The regulator's decision formalizes the executive removal decided by IRB's board on July 31, 2026.

Sources:DOU - Diário Oficial da União (INLABS)

Oct 15Official filingB3 FilingStocks

Moody's Local revises Banco Bmg outlook to stable, affirms A-.br rating

The rating agency adjusted the lender's outlook from positive to stable, citing strong payroll card market share alongside funding diversification and liquidity, according to a B3 filing with the CVM, Brazil's securities regulator. The A-.br issuer rating remains unchanged.

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• Moody's Local affirmed Banco Bmg's Issuer Rating at A-.br while revising its outlook from positive to stable on October 14, 2026.
• The rating affirmation reflects Bmg's position in payroll credit cards, profitability recovery, funding diversification, and liquidity position.

Sources:CVM - Documentos IPE (PDF)

Oct 15Official filingConsumo CíclicoStocks

Vivara secures 'AAA.br' rating from Fitch for R$300m debenture offer

Vivara filed a notice with CVM, Brazil's securities regulator, confirming that Fitch Ratings rated its R$ 300 million debenture issue 'AAA.br' on Oct 13, 2026.

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• Fitch Ratings assigned an 'AAA.br' rating on October 13, 2026, to Vivara's second issuance of simple, non-convertible debentures totaling R$300,000,000.00.
• The offering of 300,000 debentures at R$1,000.00 each uses the automatic registration rite of the CVM, Brazil's securities regulator, aimed at professional investors.
• Itaú BBA and Banco Santander act as coordinators, Tellerina and Conipa as guarantors, and Vórtx as fiduciary agent, with issuance set for October 15, 2026.

Sources:CVM - Documentos IPE (PDF)

Oct 15Capital Markets & M&AStocksM&A

Getty Images prepares Chapter 11 bankruptcy after failed Shutterstock merger

The image platform announced on Oct 12, 2026, plans to file for U.S. bankruptcy protection and return to private ownership after merger talks with Shutterstock collapsed.

• Getty Images plans to return to being a private company.
• The announcement was made on Oct 12, 2026.

Sources:Exame

Oct 15Official filingConsumo CíclicoStocks

Westwing calls vote on R$30m capital reduction proposed by Oriz

The retailer scheduled an extraordinary shareholder meeting for Nov 23, 2026, after fund Oriz Albright formally requested a R$ 30 million cash distribution from capital reserves.

• Westwing's board approved calling an extraordinary shareholders meeting for November 23, 2026, following a request by shareholder Oriz Albright.
• The meeting will vote on reducing share capital by R$30,000,000.00 through a cash payout to shareholders without canceling shares.
• Westwing's management recommends that shareholders reject the capital reduction proposal presented by Oriz Albright.

Sources:CVM - Documentos IPE (PDF)