Bradespar (BRAP4) posts 36% discount to asset value

Bradespar (BRAP4) reported in an investor relations bulletin that, on August 31, 2026, the company’s net asset value, made up mainly of its stake in Vale common shares (VALE ON), amounted to R$ 12.946 bn, while Bradespar’s market capitalization stood at R$ 8.230 bn, resulting in a 36.4% discount.

On that date, Bradespar’s stake in Vale corresponded to 163,354,595 common shares, equivalent to 3.84% of total capital, valued at R$ 12.717 bn. Bradespar’s net cash position was R$ 229.178 mn, which is included in the net asset value. The market value of BRAP3 common shares was R$ 2.618 bn and that of BRAP4 preferred shares was R$ 5.612 bn.