Discount History
In this page, we disclose the calculation of the discount observed in the
negotiation of Itaúsa's shares in relation to the market value of the sum
of Itaúsas stakes in the companies.
|
On May 31, 2013
|
|
| Public
Companies
|
Total Shares (thousand)
|
Average Price of
most liquid share (R$)
|
Market Value of
the Companies (R$ Million)
|
Itaúsa´s stake in
the companies (%)
|
Market Value of
the Stake
(R$ Million)
|
| (A) |
(B) |
(C) = (A) x (B) |
(D) |
(E) = (C) x (D) |
Itaú Unibanco Holding S.A. |
4,975,427 |
32.10 |
159,711 |
36.74% |
58,685 |
Duratex S.A. |
604,300 |
14.50 |
8,762 |
35.45% |
3,106 |
Itautec S.A. |
11,651
|
39.00 |
454 |
94.01%
|
427 |
Elekeiroz S.A. |
31,485
|
8.21 |
258 |
96.60%
|
250 |
Other Net Assets
and Liabilities (F) |
-124 |
Market Value of the Sum of the Parts of
Itaúsa on 05/31/2013 (G) |
62,344 |
Itaúsas Market Value on
05/31/2013 (H) |
5,332,206 |
9.31 |
49,643 |
-
|
49,643 |
Discount (%) (I) = (H)/(G)-1 |
-20.37% |
(A) = Total outstanding shares representing
the capital stock of the listed companies (based on
the most recent financial statements for each company available from the CVM
site - Brazilian Securities and Exchange Commission).
(B) = The most liquid shares of Itaú Unibanco, Duratex, Itautec, Elekeiroz and
Itaúsa are, respectively: ITUB4 (preferred), DTEX3 (common), ITEC3
(common), ELEK4 (preferred) and ITSA4 (preferred). Average prices for
the last day of the period
available from the BM&FBOVESPA website (www.bmfbovespa.com.br).
(C) = Corresponds to the stock exchange value of the listed companies.
(D) = Itaúsa's direct and indirect stake in the companies' total capital
according to Explanatory Note 2.4.a of the Financial
Statements of Itaúsa, to be found in the www.itausa.com.br
website.
(E) = Market value is the stake held by Itaúsa in each controlled listed company.
(F) = Net value of other assets and liabilities. Individual
balance sheet.
(G) = Itaúsa's theoretical market value, calculated on the basis of the
sum of the market value of the stakes held by Itaúsa in the
listed companies.
(H) = The effective market value, or in other words, the value calculated based
on Itaúsa's share price on the stock exchange.
(I) = The resulting value of the discount. Please note that the discount is
valid for the base date on which it was calculated, since it varies from day to
day according to the variation in the prices of the listed companies.
Note: balance sheet data of March 31, 2013.
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Check the evolution of Itaúsa´s discount monthly:
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