On July 15, 2026, Thursday, Bradespar (BRAP4) was trading at a 34.7% discount between its net asset value and its market value, according to an investor relations report. On that date, Bradespar’s net asset value totaled R$ 12.454 bn, while the company’s market value was R$ 8.138 bn.
The total value of Bradespar’s assets consisted of its stake in Vale ON, with 163,354,595 shares, equivalent to 3.83% of the miner’s total capital, valued at R$ 12.171 bn. The company also reported net cash of R$ 283.1 mn on July 15, 2026, which resulted in a net asset value of R$ 12.454 bn.
On the same date, Bradespar’s market value reflected R$ 2.585 bn in common shares BRAP3, quoted at R$ 18.73, and R$ 5.554 bn in preferred shares BRAP4, quoted at R$ 21.77. The difference between the holding company’s net asset value and market value was R$ 4.316 bn.
The report also presents the historical evolution of the average annual discount since 2010 and the monthly discount series between January 2024 and July 2026, as well as the average daily trading volume and the average monthly price of BRAP4 in the period. The document also provides a comparison of the year-to-date 2026 performance of BRAP4 and VALE3 shares with the Ibovespa.
