(News Bulletin 247) – The title Carbios shows one of the largest declines in the Paris market on Thursday morning, in response to a capital increase of 122 million euros intended to support its industrial projects.
The biotechnology company, which develops processes to reinvent the life cycle of plastics and textiles, plans to issue 4.8 million new shares at a unit subscription price of 25.32 euros.
This price represents a discount of 37% compared to the closing price of the share on the day preceding the date of approval of the prospectus, ie 40.10 euros, dated June 20.
Around 9:30 a.m., the Carbios share fell by 13%.
The capital increase, likely to be increased to 141 million euros in the event of full exercise of the extension clause, should allow the company to deploy its ‘large-scale’ industrial and commercial project.
Carbios intends to commission the world’s first PET plastic biorecycling plant in France by 2025, in partnership with Indorama Ventures.
The investment, estimated at 230 million euros, should be supported by Indorama Ventures up to 110 million euros.
Carbios funding of €120 million would include funding of €42.5 million from the state and the Grand-Est region.
The balance, approximately 77.5 million euros, will come from available cash and part of the proceeds of the issue.
As part of the operation, each shareholder of the company will receive one DPS per share, knowing that seven DPS will allow the holders to subscribe to three new shares.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
