Raízen (RAIZ4): BlackRock sells shares, but stock surges 20% in the month

In Short:

BlackRock Inc., the world’s largest asset manager, has reduced its stake in Brazilian energy and biofuels company Raízen S.A. (RAIZ4) to 3.83%, according to a regulatory filing submitted on Tuesday, June 3. The firm now holds approximately 52 million shares in the company.

Despite the stake reduction, Raízen shares have rallied 20% since hitting a monthly low on May 20, defying the bearish signal. The rally follows reports from NeoFeed that the company has reached an agreement to transfer a portfolio of solar power generation projects to Patria Investimentos, a local private equity group.

The move comes as Raízen faces a challenging macro and operational environment. The company reported a R$5.2 billion increase in gross debt. Still, Bank of America views the company’s recent asset sales—including sugarcane mills and renewable energy projects—as a strategic and positive step toward financial optimization.