PETR4 records R$ 2.6 bn in subsidy and Light ends restructuring

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The week of September 7–11, 2026 was marked by a series of relevant financial and corporate decisions, with Petrobras (PETR4) recording the receipt of R$ 2.6 bn in subsidy and Light (LIGT3) formally closing its judicial restructuring. In the power sector, Cemig (CMIG3; CMIG4) announced the appointment of a new CEO and a new chair of the board of directors, while Cemig itself (CMIG4) completed a R$ 1 bn debenture issue. In sanitation, Copasa (CSMG3) approved interest on equity (JCP, a form of shareholder remuneration that reduces the company’s tax base) of R$ 0.26 per share for 3Q26 and was added to B3’s IBrX 50 index, alongside Tenda (TEND3), Direcional (DIRR3), Cury (CURY3), Plano&Plano (PLPL3) and other developers that also announced index changes.

In the credit market, SLC Agrícola (SLCE3) raised R$ 515.5 mn in a CPR-F issue (Financial Rural Product Note, a credit instrument linked to agribusiness), while Alpargatas (ALPA3) raised R$ 300 mn in its 4th debenture issue. Among banks, Itaú Unibanco (ITUB4) reported raising R$ 5 bn in Tier 2 financial notes, and Hypera (HYPE3) approved a R$ 1.35 bn debenture issue, in addition to announcing the repurchase of up to 750 thousand debentures of the HYPEA6 series. Movida (MOVI3) recorded the subscription of R$ 141 mn in its capital increase, BR Partners (BRBI11) approved a R$ 30 mn capital injection into Banco BR Partners, and Paranapanema (PMAM3) announced a R$ 2.7 mn capital increase in a week when PMAM3 shares also ranked among the top gainers on B3.

Among corporate and governance moves, Nêmesis reduced its stake in Azevedo & Travassos (AZEV4) to 53%, Morgan Stanley reached 5% of Pague Menos (PGMN3), Brazil Investimentos FIPs cut their stake in Allied (ALLD3) to 24.9%, and Invesco reduced its stake in Cyrela (CYRE3/CYRE4) to 5%. Real Investor reported reaching 9.92% of Even (EVEN3) and 5% of Vulcabras (VULC3), while Perea Capital reached 10% of Anima Educação (ANIM3) and João Carlos C. de Vargas came to hold 8% of Paranapanema (PMAM3). On the regulatory and capital structure front, Enjoei (ENJU3) approved a reverse stock split at a 10-to-1 ratio, Axia Energia (AXIA3) announced a window for conversion of PNC preferred shares, Cosan (CSAN3) requested the delisting of its ADSs from the NYSE and OranjeBTC (OBTC3) announced the repurchase of 4.36 mn shares at the beginning of September.

Several disclosures addressed free float (shares outstanding in the market) and indexes: Brisanet (BRST3) reported a minimum free float of 18.95% through 2027 and a 1.59 mn broadband customer base in August, while Dasa (DASA3), Mater Dei (MATD3), Cruzeiro do Sul (CSED3) and Blau (BLAU3) announced extensions or deadline postponements to meet the minimum level of shares in circulation. As for B3 indexes, in addition to Construtora Tenda (TEND3) joining the Ibovespa, Plano&Plano (PLPL3), Cury (CURY3), Direcional (DIRR3), Copasa (CSMG3) and Moura Dubeux (MDNE3) reported inclusion in portfolios such as IBrX 50, IBrX 100 and IDIV. On the regulatory side, IRB Brasil (IRBR3) obtained approval from Susep for new insurers and the maintenance of the ‘brAAA’ rating by S&P, Bradsaúde (SAUD3) reported the cancellation of authorization by ANS, Banco da Amazônia (BAZA3) approved studies for a card joint venture, while Vale (VALE3) reiterated that there is no decision on a potential debt securities issue or on an IPO of Vale Base Metals. The week also featured new executives at Romi (ROMI3) and Tenda (TEND3), share buyback decisions at Grupo Mateus (GMAT3) and OranjeBTC (OBTC3), a production update at PetroReconcavo (RECV3) and clarifications from Casas Bahia (BHIA3) on Operation Ícaro.