Wilson, Sons listed on Novo Mercado
Oct, 25, 2021 Posted by Ruth HollardWeek 202141
Wilson, Sons, an integrated operator of maritime, port, and logistics services, begin trading its shares on B3’s Novo Mercado this Monday under the code PORT3. The entry of the company’s shares at the highest governance level of the stock exchange was possible after the shareholder approved on Friday the incorporation of Wilson Sons Limited (WSL), headquartered in Bermuda by Wilson Sons Holdings Brazil. With an 82% quorum in the assembly, the agenda was approved unanimously.
Announced in May, the transaction simplifies the company’s corporate structure which up until then traded Brazilian Depositary Receipts (BDRs) issued by WSL. The change, without financial support and with a share exchange ratio of 1 to 1, does not change the capital structure and the company will remain controlled 57% by the Ocean Wilsons Group while the free float will be 43%.
Source: Valor Econômico
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