Frequently Asked Questions

Where are FERBASA’s shares traded?

The Company’s shares are listed for trading in the BM&FBOVESPA under the symbols "FESA3" and "FESA4".


What are the share rights?

FERBASA’s common shares entitle their holders to:

  • Right to vote at the Company Shareholders’ Meetings;
  • Right to the mandatory minimum dividend in each fiscal year, equivalent to 25% of adjusted net income pursuant to Article 202 of the Brazilian Law of Corporations;
  • In case of cancellation of the company’s registration as a publicly-held company, the right to sell shares in a public tender offer to be made by controlling shareholders, at their corresponding economic value arrived at through the preparation of a valuation report by a specialized and independent firm with proven experience and selected by the meeting of the holders of outstanding shares from a list of three firms submitted by the Board of Directors. The costs relating to the preparation of said report should be fully borne by the controlling shareholders; and
  • All other rights guaranteed to the shares pursuant to FERBASA’s Bylaws and the Brazilian Law of Corporations.

FERBASA’s preferred shares entitle their holders to:

  • Receive dividends ten percent (10%) higher than the dividends paid to common shares; and
  • Priority in capital reimbursement.


How and where does FERBASA disclose its information?

All FERBASA’s material facts, earnings releases and other notices to the market are published simultaneously at the Securities and Exchange Commission of Brazil - CVM (, at São Paulo Stock Exchange ( and at the Company’s website, and sent later by e-mail to persons registered to receive this information. To receive information by e-mail please register here.

Complete financial statements are published annually on the newspapers Estado de São Paulo, Correio da Bahia and Diário Oficial da Bahia.


How individuals not resident in Brazil can invest in FERBASA shares?

The investors residing outside Brazil, including institutional investors, are authorized to acquire securities, including FERBASA shares, at the Brazilian stock exchanges, as long as they comply with the register requirements under Resolution nº 2,689 and CVM Instruction nº 325, of January 27, 2000, and amendments.

The investors registered under Resolution nº 2,689, except for certain circumstances, may carry out any type of transaction in the Brazilian capital market involving a security traded in the stock exchange, futures market or organized over-the-counter market. The investments in and remittances of, outside Brazil, earnings, dividends, profits or other payments related to FERBASA shares are carried out through the foreign exchange market.

To become an investor registered under the provisions of Resolution nº 2,689, an investor residing outside Brazil shall:

  • Appoint representative in Brazil, with powers to perform actions relating to its investment;
  • Appoint an authorized custodian in Brazil for its investment under Resolution nº 2,689, which must be a financial institution duly authorized by the BACEN and CVM; and
  • Through its representative, register as a non-Brazilian investor with the CVM and register the investment with the BACEN.

Securities and other financial assets held by non-Brazilian investors pursuant to CMN Resolution no 2,689 must be registered or maintained in deposit accounts or under the custody of an entity duly licensed by the BACEN or the CVM. In addition, securities trading is restricted to transactions carried out in the stock exchange or through organized over-the-counter markets licensed by the CVM.


Who is responsible and where is provided the service to shareholders?

The service to FERBASA‘s shareholders is provided at any branch of Banco BRADESCO, which will also be available to shareholders to clarify their doubts through the phone number 08007011616, fax number (11) 3684-3811, and the website


How can I contact the Investor Relations area?

Companhia de Ferro Ligas da Bahia - FERBASA
290 Ewerton Visco St., Ed. Boulevard Side Empresarial
Caminho das Árvores, 25º floor - ZIP CODE 41820-022
Salvador - Bahia - Brazil

Heron Albergaria de Melo
Financial and Investor Relations Officer

Carlos Henrique Temporal
Investor Relations Manager

Phone: +55 (71) 3404-3016 | +55 (71) 3404-3023 | +55 (71) 3404-3065

For further information, see the Contact IR Section.


Why does FERBASA calculate EBITDA?

EBITDA means net income (loss) for the period excluding income and social contribution taxes, depreciation, amortization, financial income and expenses (net), and non-operating expenses (net). Although the EBITDA does not provide, according to the Brazilian Accounting Principles (BR GAAP) or the U.S. Accounting Principles (US GAAP), measures of the operational cash flows, FERBASA management uses EBITDA to measure its operating performance. EBITDA does not have a standardized meaning and FERBASA’s definition of EBITDA may not be comparable to EBITDA as used by other companies.

EBITDA does not represent cash flow for the periods presented and should not be considered alternatives to net income or as an alternative to cash flow as an indicator of liquidity.