Braskem's out-of-court restructuring plan includes possible follow-on share offering - sources

Braskem SA is reportedly considering a follow-on share offering as part of its broader out-of-court restructuring plan, according to sources familiar with the matter. The company, which has more than $10 billion in debt across its operations in Brazil, the U.S., and Europe, is seeking to extend its restructuring timeline by securing support from creditors representing at least one-third of its financial obligations.

The proposed restructuring includes a 90-day stay period to allow for further negotiations, during which Braskem could pursue a capital increase or other forms of financial support from its main shareholders, including IG4 Capital and Petrobras. While a shareholder capital injection is not currently on the table, discussions remain open for future funding options tied to an operational transformation plan.

The company’s recent Chapter 11 filing in the U.S. by its Mexican subsidiary, Braskem Idesa, has already included a $476 million capital injection from Braskem S.A. as part of a broader debt-to-equity conversion agreement. This move highlights the company’s strategy to reduce leverage and stabilize its balance sheet amid ongoing liquidity pressures.

Braskem’s shares closed down 3.1% on August 19, 2026, as uncertainty over its restructuring negotiations continued to weigh on investor sentiment. The company has not yet commented on the potential follow-on offering or the broader restructuring plan.