The French technology group Atos announced this Monday that it is abandoning its plans to proceed with a capital increase that will allow it to alleviate the pressure of debt that is suffocating it, which caused its collapse on the stock market.
Atos noted that “taking into account the evolution of the market context“The conditions are not met for this capital increase, which should have been carried out with preferential subscription rights of 720 million euros, according to a statement.
Instead, he specified that he has started “discussions with your banks to achieve a refinancing plan for your financial debt”.
Negotiations for which he has requested the appointment of an ‘ad hoc’ representative with the mission of assisting him to achieve “a suitable financial solution in the shortest time”.
The company’s situation has worsened even more with the downgrading of its credit rating by the rating agency S&P in January.
The arrival of this information to the market led from the beginning of the session on the Paris Stock Exchange to a drop in its shares, which had closed last Friday at 3.931 euros and which as soon as the market opened was at 3.38 euros.
The titles fell below 3 euros in the morning and half an hour after the closing of the Paris Stock Exchange they were trading at 2,816 euros, a decrease of 28.36%.
So far this year, Atos has depreciated more than 60% in the market.
At the beginning of January, Atos indicated that it was discussing with Airbus the sale of its cybersecurity business, based on an offer made to it by the aeronautical giant.
He is also negotiating the transfer of Tech Foundations’ activities with EPEI, an investment fund controlled mainly by Czech magnate Daniel Kretinsky.
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
