At the beginning of the new trading week, Carbios shares plummeted by a good five percent on the home stock exchange in Paris. The background to this is a corporate action that the loss-making recycling company announced on Monday. This is anything but well received by market participants.
Carbios wants to raise EUR 105 million with a capital increase. If the increase option were fully exercised, the amount could even amount to 120.75 million euros. According to reports, the maximum subscription price per share is EUR 41.00.
Major shareholders are pulling along
L’Oréal (through the investment company BOLD) and Michelin Ventures have agreed to subscribe for the capital increase within the scope of the current stake in the company. A strong signal.
Among other things, Carbios intends to use the liquid funds to finance the construction of a PET reference system and operating costs in connection with the demonstration system under construction. In addition, the money is to be used for research activities on other polymers. Carbios sees itself financed through the capital measure until the end of 2023.
CARBIOS (NYSE: CARBIOS)
The corporate action is likely to have a negative impact on the share price in the short term. However, Carbios is then ideally positioned to drive the exciting developments forward. Invested investors stay on board, but note the stop at 36.00 euros.