Minerva approved last Thursday, at an extraordinary general meeting, a reduction of its share capital by R$ 577.3 million, aimed at absorbing accumulated losses from the fiscal year ended December 31, 2024.
The company stressed that the measure “is carried out without cancellation of shares, without return of value to shareholders, with immediate effect and without the need to wait for the period for possible creditor objections.”
Following approval, the share capital was set at R$ 3.1 billion, divided into 994,534,197 ordinary, registered, book-entry shares, without par value. Before the reduction, capital stood at R$ 3.6 billion.
In 2024, Minerva reported losses of R$ 1.56 billion. While EBITDA increased, financial losses more than doubled compared to the previous year, totaling R$ 3.93 billion.
The company’s Board of Directors had already given the green light to the capital reduction in early August, reported Money Times.
