The stock on the Sole 24 Ore stock market takes off in Piazza Affari, and in the mid-morning it is suspended in a volatility auction with a rise of 13,72%, at 0,455 euro per share, then it is readmitted to trading and at the beginning of the afternoon mark a gain of 7,5%, to 0,43 euros. This year the Sun has fluctuated between a minimum of 0,30 euros and a maximum of 0,748.
The wave of purchases on the stock was triggered by the Board of Directors, which on Monday evening announced that it had accepted the binding offer of the Palamon Capital Partners fund for a share of the group's Training and Events area, valued as a whole at 80 million ( enterprise value). Finalization is expected by the end of July.
According to the note, the group has received three offers, two of which are binding, with proposals "such as to allow the realization of a capital gain higher than that indicated in the equity and financial manoeuvre".
The Training and Events division, which includes the 24 Ore Business School, closed 2016 with revenues of 21,4 million, with an Ebitda of 2,1 million and with a negative operating result of 0,6 million.
The sale is part of the capital strengthening plan envisaged by the management to restore the safety of accounts and assets and avoid the risk of bankruptcy. At the end of the month, the shareholders' meeting is expected to approve the capital increase of 50 million euros.
From the sale of a share of the Signature and Events Area, a contribution of another 20 million was envisaged to cover the financial needs of the group.
