By Brazil Stock Guide – Sergio Zimerman, founder and controlling shareholder of Petz SA (B3: PETZ3), reduced his total stake in the Brazilian pet retailer to 41.74%, according to a filing cited by InfoMoney. The adjustment, down from 46.73%, reflects a mix of direct holdings and derivatives.
Zimerman now holds 141.1 million common shares, equal to 30.5% of Petz’s share capital. At the last closing price, this stake is valued at about R$1.15 billion ($210 million).
Zimerman remains the company’s key shareholder, the filing said.
Derivatives exposure
In addition to shares, Zimerman controls 15.97 million physically settled derivatives, including the sale of 6.97 million call options and 9 million put options. If exercised, these positions could increase his direct ownership by about 0.44%.
He also maintains 111 million cash-settled derivatives, a mix of flexible call and put options, representing a net financial exposure of 10.81%. These instruments, however, do not alter his direct equity position.
Portfolio realignment
The stake adjustment underscores a portfolio realignment, but leaves Zimerman as the dominant shareholder of Petz, a position he has held since founding the company.
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