Brazil's Padtec completes financial transformation

Padtec, a global provider of flexible and high-capacity optical transport solutions based in Brazil, completed the last stage of the merger of its shares by Padtec Holding, formerly Ideiasnet, a company traded on B3 (the Brazilian stock exchange), which becomes its sole shareholder.

Under the transformation, Padtec’s former shareholders become part of the new Padtec Holding’s shareholding structure. At a special general meeting of the company held today, statutory and corporate governance changes and the new name of the company, which changed from Ideiasnet to Padtec Holding, were approved. The trading code for the company’s shares on B3 has also been changed to PDTC3.

In practice, this operation turns Ideiasnet into Padtec. “Ideiasnet no longer has its own structure, giving way to Padtec. Padtec, on the other hand, starts to access the capital market more easily with the operation”, said Renato Jordão, CFO and Investor Relations Director of the new Padtec Holding.

Jordão also pointed out that the operation is part of the company’s strategy to continue to focus efforts on the market for high-capacity optical systems for data transmission networks. “Raising capital through a new share offering at B3 is something that we see in the medium term. The capital obtained with a new offering of shares in B3 will be directed, primarily, to the areas of research and development of cutting-edge technology. The objective is to expand the leadership in the Brazilian market and, also, expand Padtec’s performance in the international market”, says the executive. “With this, we will be able to offer increasingly advanced solutions and services to the market, in order to make the company even more competitive and accelerate its business in Brazil and abroad”, he added.

https://www.padtec.com.br/