Dados B3 › Left the exchange

The companies that left the exchange — and what is left of them

In 2025, 13 companies stopped trading on the B3: Clear Sale (CLSA3), Kora Saúde Participações (KRSA3), Eletrobrás Participações (LIPR3), Atacadão (CRFB3), JBS (JBSS3), Eletromidia (ELMD3), Natura & Co Holding (NTCO3), BRF (BRFS3), Santos Brasil Participações (STBP3), Serena Energia (SRNA3), Zamp (ZAMP3), Wilson Sons (PORT3), RNI Negócios Imobiliários (RDNI3). In 2026, through 2026-11-04, 12.

How to cite: Dados B3 — companies that left the exchange, by year of last trade, data through 2026-11-04. https://dadosb3.com/saiu-da-bolsa?lang=en

Who left, year by year

Exit = last trading session on the B3 (B3 quotes). Includes companies whose CVM registration was cancelled and companies that traded regularly (100+ sessions in the prior year) and have had no trade for over 60 days. BDRs and companies with no recorded trade are not included.

Our universe is the CVM's register of active companies. Whoever leaves the exchange disappears from it — and who leaves is disproportionately who failed. This page is that hole, measured and named.

The statements are not the problem

All 771 filed an annual statement with the CVM in at least one financial year, and 67 filed in all 16 years of the window. The accounting history exists and is public — it is not what is missing.

Tying the company to the share is the problem

A statement carries a CNPJ, not a ticker. For a company still listed, the exchange's own catalogue closes that gap; for one that left, it does not. The only open source that does is the registration form (FCA, securities section), where the company itself declared its trading code — and that field only started being filled around 2020: empty in 2015, 64% filled in 2020. It therefore sees whoever survived past 2020 and misses whoever left before — a bias pointing the same way as the hole it would measure.

Result: 77 of the 771 have a linked ticker, and 77 have trading sessions in the exchange's end-of-day files. (Since 2026-11-01 a declared code also opens the old tickers: each session's ISIN carries the issuer code, which the exchange keeps when the ticker changes, so BVMF3 and B3SA3 are the same series.)

Why we do not guess the rest

Names can be matched against the abbreviated name in the price file. We measured it: across the 28 companies where both routes exist, 27 agree and one is wrong — “Eletrobrás Participações” matches ELET*, which is a different company. A wrong ticker that looks right ruins a backtest silently, because the wrong share's series never complains. So the table below carries only codes the company declared itself, plus the tickers sharing the SAME ISIN issuer as a declared code — and an issuer claimed by two companies is given to neither.

What can be reconstructed (77)

What the base already holds on those that left

77 of 771 companies have a linked ticker (118 tickers; 2 of them found only through the ISIN issuer, not the FCA) and 149,551 trading sessions from 2010-01-04 to 2026-09-01, up to each ticker's last session — the exit as the exchange file records it. Prices are as traded, with no split or reverse-split adjustment. 2 sessions carry a close outside the low-high range in the source itself and are marked ohlc_incoerente, uncorrected. The Pro dump carries the series (delistadas_precos, delistadas_papeis, delistadas_eventos).

What is still a gap

• Dividends: 68 companies that left have dividends in the base, what they declared to the CVM: 1,953 rows from the Reference Form (dividend distribution section: the amount in R$ paid to each share class, per fiscal year, with no per-share value or record date; the section only exists up to the 2022 form) and 88 from the IPE "Relatório Proventos" (per-share value and record date, since 2024). Between the two periods there is no source, and we do not estimate.
• Splits and reverse splits: 113 events from 55 companies, declared in the CVM Reference Form — with the approval date and the share count before and after, without the ex-date. They tell you the raw price has a step nearby; they do not adjust the series.
• Tickers without a company: 136 issuers traded a share or unit since 2010 with no single CVM company claiming them — none did, or two did (R$ 1,076 bn of summed volume). The 30 largest are below. Linking them would require matching by name, which errs (see above), and we do not.

Coverage by year of exit

The 30 largest tickers without a company (by traded volume)

What cannot (239 with registered shares)

The longest histories first; the full list is in the versioned file that feeds this page.

This does not yet remove the bias

Having a ticker and prices for 10% of the companies that left makes the bias smaller, not gone — and what remains is not random: it is precisely those that left before 2018, when companies did not declare a code. Nothing here changes the universe the API serves (rankings, multiples and counts still cover active companies only); delisted companies live in their own tables and ship in the dump, so a backtest can include them by choice and with the warning in view. The other limits are at what we do not solve.

Sources: the CVM's annual statements (DFP), the registration form (FCA, securities section) and B3's end-of-day price file, 2010–2025. Measured by ferramentas/sondagem_delistadas.py; the figures on this page are counted from the database at render time.

Numbers on this page are live. Data version 2026-11-03-codigos-de-cota-fii · page generated 2026-11-04 18:17 UTC. If this does not match /saude, you are reading a cached copy.