On 08/14/2023, Itaúsa revealed its plans to strengthen its capital,
opting to issue new shares at a 30% discount in relation to the average price recorded between the months of April and August this year. Given this attractive discount, shareholders found themselves compelled to subscribe to their exercise preferences. Those who chose not to exercise this right, in turn, effectively gave up approximately 30% of the amount to which they were legitimately entitled. What adds complexity to this scenario is the fact that Itaúsa has recovered its financial resources through the sale of its stake in the company XP, all while celebrating the announcement of the biggest quarterly result in the company's history.
Concerns and Disturbances
In the reports, Setubal indicates that the external scenario is still challenging, which requires caution. He mentions: " American interest rates are also at high levels, central banks around the world maintain a firm stance to achieve their inflation targets, and increasing geopolitical conflicts generate uncertainty about the global economy. For these reasons, we continue observing cautious dynamics in business. "
Too much apprehension or due preparation?
The cash and cash equivalents position reflects this concern; Is Itaúsa not excessively apprehensive about its risky assets ? Or is Itaúsa preparing to act proactively in the face of possible opportunities in the market?