ECTX applies to be registered as a publicly-traded company4 January 2013
ECTX SA, the newly formed Eucatex group operating company, has applied to Brazil’s Securities and Exchange Commission (CVM) to be registered as a publicly-traded company.
Its registration will open the way to an ECTX placement on São Paulo's BOVESPA Stock Exchange's 'New Market' (Novo Mercado) in the hope of attracting fresh investors and raising new capital. The Novo Mercado is tighter regulated and demands greater transparency of companies than the traditional trading market.
Eucatex suggested last October that ECTX, where all group operations are being concentrated, should be trading on the new market within four months.
The CVM application is the latest stage in a major corporate restructuring at the São Paulo-based panel producer, designed to streamline the group to allow it to weather today's rocky market conditions and to embark on new development.