Ambipar Stock Crashes to R$1.40 Record Low as Scrutiny Intensifies on Receivables Fund

Concerns center on a reclassified R$2.07 billion receivables fund whose governance and liquidity have come under scrutiny.

Overview

Ambipar shares fell 49.1% on Oct. 3 to R$1.40, following a 61.5% slide the previous session.
Trading volumes were elevated during the selloff, with R$64.7 million changing hands on Oct. 2 and R$38.6 million on Oct. 3.
Company filings for the third quarter introduced a R$2.07 billion line identified as a receivables investment fund with 30–60 day liquidity, diverging from prior long-term FIP disclosures.
CVM records show the Fênix receivables fund changed its name to América do Norte on Sept. 23 and reverted to Fênix on Sept. 24, and reporting indicates quota losses, higher default provisions, and approval for a R$1.2 billion capital raise.
Ambipar obtained a precautionary court measure that shields it from creditor collections after a dispute linked to a US$35 million Deutsche Bank obligation, and it hired BR Partners as financial adviser.