September 20, 2017 / 11:27 PM / 3 months ago

Braskem denies reports on merger of stock classes

BRASILIA, Sept 20 (Reuters) - Brazilian petrochemical company Braskem SA said it is not studying a possible share restructuring, according to a securities filing late on Wednesday.

Braskem preferred shares jumped at market open on Wednesday, finishing the day up 6.7 percent, after a local media report said the company was considering merging different types of stock into a single common class.

The report comes as major shareholders Petroleo Brasileiro SA and contractor Odebrecht SA mull a revised shareholder accord aimed at improving relations between the companies. (Reporting by Jake Spring; Editing by Sandra Maler)

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