Another nightmare day in Piazza Affari for the Astaldi stock. After having great difficulty pricing, the stock was admitted to trading and soon dropped by 25%, ending up in a volatility auction. By mid-morning, the stock was back in trading and dropped by 24,9%, to 2,336 euros.
The new wave of sales was triggered by the communication of the latest quarterly data, which include the write-down of approximately 230 million euros of receivables from Venezuela and the communication of the capital strengthening programme.
The company has set up a strengthening operation for a total of 400 million, divided into a capital increase of 200 million and the issue of additional financial instruments for 200 million.
The stock has been under the pressure of the realizations for over a week, after the news of the initial postponement of the Board of Directors and the subsequent diffusion of news on the possible capital increase, rumors that forced the company to confirm the operation before the go-ahead to the quarterly accounts.
Yesterday Astaldi shares had lost 7%, after the -44% recorded last week.
