Shares of Braskem (BRKM5) surged nearly 19.9% to R$4.22 on Thursday, recovering from a two-day decline of 13-14% that followed an extrajudicial recovery filing and B3’s decision to remove BRKM5 from its indices.
The rebound coincided with Petrobras’ agreement to expand a commercial credit line between the two companies from R$350 million to R$2.35 billion. The credit will cover raw material supplies with extended payment terms of 30 days, and the contract remains valid through the end of 2026.
Braskem is navigating approximately US$10.9 billion in unsecured financial obligations as part of its debt restructuring efforts. International bondholders granted the company a 90-day standstill period to finalize the plan, providing temporary relief amid ongoing negotiations.
The stock, though up sharply, remains well below its 52-week high of R$13.78, reflecting broader challenges in Braskem’s financial position despite the recent developments.
