Capital increase to be made Hard Felguera for the second time in five years to strengthen its solvency. the stock market did not go well Although it is an operation that needs to be discounted by investors as it is announced as the firm will of the company and is part of 2021 public bailout commitments.
Even so, since the announcement of the project on Tuesday night for the entry of two Mexican investors and the capital increase that would allow the company to raise 90 million euros through the issuance of new sharesDuro Felguera dropped 10.36% of its stock market value in two sessions, which means a drop in market capitalization of just over 9.21 million.
Engineering closed the session with a market cap of just over 88.89 million on Tuesday and closed this Wednesday at 79.68 million. This Tuesday’s drop was 5.08% of its value (from 0.926 euros to 0.879 euros per title, despite an increase of 4% in the early stages of the negotiation) and Another 4.89% down again this Wednesday and closed at 0.983 Euros.
Corrective
In the absence of further information, this adjustment for an operation that guarantees the solvency and solvency of the group and will create new business opportunities, the dilution that the operation would imply for existing shareholders Even if part of the extension up to 40 million of the 90 million total time is reserved. Therefore, the adjustment anticipates that dilution (current owners of the company will have a lower percentage in the company) will be immediate, while the benefit through improved results will be a lagging effect.