(News Bulletin 247) – The title soared 16% on the Paris Stock Exchange, before the Casino group requested the suspension of the title pending the publication of a press release.

The action of the Casino group was suspended this Tuesday shortly after 11 a.m. at the request of the group, pending a press release, according to a press release from the stock market operator Euronext.

Previously, it jumped 16% to 4.57 euros on the Paris Stock Exchange at the end of the morning, after the announcement of two separate offers of equity contributions according to a press release on Tuesday, one from billionaires Kretinsky-Ladreit de Lacharrière, the other of the Niel-Pigasse-Zouari trio.

The value of its parent company, Rallye, advanced by almost 100%, to 1.25 euros around 10:40 a.m. Since the beginning of the year, the price of Casino and Rallye shares have fallen by more than 53% each.

According to information from BFM Business, the Kretinsky-Ladreit de Lacharrière tandem is proposing a capital increase of 1.8 billion euros, of which 900 million euros will be financed by themselves, the balance being contributed by creditors. The proposal of the Niel-Pigasse-Zouari trio consists of strengthening equity to the tune of 900 million euros, with 300 million euros contributed by the three businessmen and around 600 million euros by creditors.

(with AFP)