PBG S.A. announces an Equity Buyback for 6,542,817 shares, representing 4.43% of its issued share capital.
June 14, 2021 at 11:32 pm
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PBG S.A. (BOVESPA:PTBL3) announces a share repurchase program. Under the program, the company will repurchase up to 6,542,817 common shares, representing 4.43% of the total issued share capital. The purpose of the program is to maximize value creation for shareholders, with the company being able to hold said shares in treasury, for subsequent cancellation or sale, as well as use them in stock option plans. The Company will cancel all its treasury shares. The transactions carried out within the scope of the program will be supported by the resources available at the profit reserve account or the capital and retained earnings account. The program is effective until June 14, 2022. As of June 14, 2021, the company had 147,529,703 issued shares.
PBG SA, formerly Portobello SA, is a Brazil-based company primarily engaged in the production and commercialization of ceramic products. The Companyâs portfolio includes flooring, technical and enameled porcelain tiles, decorative pieces, mosaics, products for the coating of internal walls and external facades, among others. Through its subsidiaries, the Company is also involved in the administration of network of franchise stores, under brand names Portobello Shop and Emporio Portobello, specializing in ceramic tiles. Additionally, the Company is active in the provision of complementary services in the construction materials area. The Companyâs subsidiaries include Portobello America Inc, PBTech Comercio e Servicos de Revestimentos Ceramicos Ltda, Portobello Shop SA and Mineracao Portobello Ltda.
PBG S.A. 