New collapse of Saipem ordinary shares on the Milan Stock Exchange. In Paris, on the other hand, the energy giant EDF requested the suspension of the shares from the list pending clarification of the picture of the possible nationalization announced by the government.
Saipem, new collapse on the last day of rights exchange
On the last day in which the rights left unexercised in the first phase of the procedure can be purchased on the Stock Exchangecapital increase of 2 billion of Euro. After -48,5% in yesterday's session, quotations are falling further towards the subscription price of new bonds, equal to 1,013 euros: after having scored -24% to 1,479 euros, the shares entered the volatility auction. The capital increase has received subscriptions equal to 70% of the capital and for this reason the 6,284 million unexercised rights have been put up for sale since Tuesday, which allow the remaining 30% of the increase to be subscribed for a value of approximately 604 million: in Tuesday's session about a third of the rights (1,969 million shares) were sold, while this morning about 80 thousand shares changed hands out of the 4,3 million available.
Edf calls for the suspension: the government must decide on nationalisation
French group EDF has announced that it has asked the stock market authorities to suspend its shares until further notice following recent government statements about the company's nationalization plans. “Following communications from the Prime Minister, and following exchanges with the French Authority for the financial markets, EDF has requested the suspension of trading in its shares until further notice. No further communication will be made by the Company in this regard until the French State publishes a press release in this regard,” Edf said.
Borsa Italiana also announces that EDF shares and the related securitized derivatives are suspended from trading following a similar provision in the reference market.
Updated July 11, 47 at 13:2022am
