New stake for the free capital increase of Ansaldo Sts, which will be raised from 60 to 70 million euro. In the second tranche, 20 million new shares will be issued (one new for every six owned) each with a nominal value of 0,50 euro. The operation adjustment factor is 0,85714286. Following the transaction, Nomura analysts classified the Ansaldo STS shares as "buy", reducing the target price from 13 to 11 euros.
Brokers expect an update of the 2011 guidance for July 26, when the second quarter results will be presented. Overall, the free share capital increase will reach 50 million euro through the issue of 100 million ordinary shares of 0,50 euro each. The operation will be completed by 31 December 2014, in five annual tranches of 10 million euro and 20 million shares each.
