Braskem discloses USD 2.25 billion rights plan for Braskem stock

Published on 10/28/2026 at 06:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Creditors seek USD 1.85 billion and debt conversion by October 30, 2026. Braskem stock faces a USD 10.9 billion restructuring.

Restructuring terms and deadlines

Braskem's October 23 proposal included a USD 2.25 billion rights offering.
UBS cut its target from USD 4.00 to USD 1.50 on September 15, 2026.
The restructuring milestones fall on October 30, 2026 and November 22, 2026.

BAK, BRBRKMACNPA4, Illustration mit AI erstellt.

Braskem (BRBRKMACNPA4) disclosed a USD 2.25 billion rights offering proposal on October 24, 2026, as negotiations over a restructuring continued. The filing with the SEC said the parties had not reached agreement and that the next milestone had been extended to October 30, 2026.

Two restructuring plans compete

The disclosed package covers proposals from Braskem and its investors. The company proposal, delivered on October 23, 2026, includes a USD 2.25 billion equity offering, a USD 1.20 billion backstop and a USD 2.80 billion upfront debt-to-equity conversion, while the investor proposal also sets the equity offering at USD 2.25 billion.

Creditors are seeking a USD 1.85 billion capital commitment and a further USD 1.85 billion debt conversion, according to The Rio Times on October 27, 2026. The difference in funding size and timing is central to the negotiations, with the creditor proposal requiring the capital at closing.

Three milestones frame the talks

Braskem filed for extrajudicial recovery on August 24, 2026, covering about USD 10.90 billion of unsecured financial debt. On October 23, 2026, Braskem delivered its proposal for a USD 2.25 billion offering. On October 24, 2026, investors delivered a second USD 2.25 billion offering proposal, according to the SEC filing.

What do analysts price into BAK?

Analyst sentiment adds pressure to the restructuring story. MarketBeat reported that UBS cut its target from USD 4.00 to USD 1.50 on September 15, 2026, while HSBC cut its target from USD 6.50 to USD 1.50 on September 28, 2026. The same report listed three Hold ratings and five Sell ratings.

Dates investors can measure

The main restructuring milestone is October 30, 2026, while creditor support needed for court approval is due by November 22, 2026, according to The Rio Times. Those dates provide the next concrete tests for the competing capital and debt-conversion terms.

Market value and trading context

As of October 27, 2026, Braskem's market capitalization was USD 538.0 million, while its 52-week range was USD 0.92 to USD 5.40. The primary listing is on the NYSE under ticker BAK.

The further course of trading is shown by the continuously updated real-time quote of Braskem stock.