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GGB Exchange Traded Fund Ubs Etf Global Green Bond Esg

9.476
-0.014 (-0.15%)
31 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Exchange Traded Fund Ubs Etf Global Green Bond Esg BIT:GGB Italy Exchange Traded Fund
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.014 -0.15% 9.476 9.354 9.634 9.476 9.465 9.474 5,791 16:36:00

Brazil's Banco Opportunity Buys Metalurgica Gerdau Stake

27/04/2009 10:47pm

Dow Jones News


Exchange Traded Fund Ubs... (BIT:GGB)
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Brazilian fund manager Banco Opportunity purchased 15% of outstanding preferred shares in steel holding company Metalurgica Gerdau SA (GOAU4.BR), the company said late Monday.

In a filing with stock regulators, Metalurgica Gerdau said that Banco Opportunity purchased 191,500 preferred shares, or 15.01% of outstanding preferred shares, on April 20.

"We would like to inform that the acquisition of the mentioned preferred shares does not have as an objective a change of control in the company," Metalurgica Gerdau said. Banco Opportunity, however, does intend to nominate a member to the company's board of directors.

Metalurgica Gerdau's shares closed down 4.2% at 19.47 Brazilian reals ($8.77), making Banco Opportunity's stake worth BRL3.73 million.

Metalurgica Gerdau is a steel holding company for some activities of Brazilian long steel giant Gerdau (GGB). Gerdau is the largest long steel maker in the Americas.

-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085; jeff.fick@dowjones.com

 
 

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