Paraná Banco SA's shareholders have approved the bank's plans to delist from market trading.
In a Dec. 22 extraordinary general meeting, shareholders approved the bank's removal from level 1 trading on the BM&FBovespa. They also approved a move to cancel the company's registration as a publicly held company, or to convert its registration into category B if it should fail to gain consent from securities holders.
With the shareholder approval, Paraná Banco's controlling shareholders will move forward with a public tender offer to acquire the bank's outstanding shares.
The company said it will call another shareholders' meeting to choose a specialized institution or firm to be responsible for preparing an appraisal report for the bank's tender offer to acquire its issued preferred shares.