Atlas · Capital market
Deadline to request a new valuation in a public company is 15 days
AnswerShareholders holding at least 10% of the outstanding shares have 15 days, starting from the public offer price disclosure, to request administrators to conduct a new valuation of the company.
Reviewed on 2026-10-02 · next review 2027-04-02
Data
| Who | Action | Deadline | Source | Data date |
|---|---|---|---|---|
| Shareholders (min. 10% of outstanding shares) | Request new valuation | 15 days from public offer price disclosure | Law 6.404/1976, art. 4.º-A, § 1.º | 31/10/2001 |
| Administrators | Attend meeting convening request | 8 days | Law 6.404/1976, art. 4.º-A, § 1.º | 31/10/2001 |
Data consulted on 02/10/2026.
Basis
- Law No. 6.404/1976, compiled (Planalto, in Portuguese): Article 4.º-A establishes the minority shareholders' right to request a new valuation of the company and sets the deadlines for submission and administration response.
How it applies
The request must be supported and accompanied by convincing evidence of failure or imprecision in the calculation methodology or evaluation criteria used in the public offer. If administrators do not comply within 8 days, the requesting shareholders themselves may convene a special meeting. Shareholders who request the new valuation and those who vote favorably must reimburse the company for incurred costs if the new assessed value is less than or equal to the initial public offer value.
Limits
- The right to request a new valuation applies to holders of at least 10% of outstanding shares, excluding shares owned by the controlling shareholder, directors, board members, and treasury shares.
- This sheet does not cover technical valuation criteria, only the procedural deadline.
- Subsequent amendments to Law 6.404/1976 should be checked in the official source.