09
Jun
09:15
Vallourec shares plummet after capital increase
French pipemaker Vallourec has implemented a €300 million ($365m) capital increase, the last part of its financial restructuring announced last year. The company’s shares on the Paris stock exchange jumped on Friday last week as a consequence, only to collapse twice, reflecting investor confidence.
The rights issue will give the pipemaker better liquidity to go to its creditors, but its financial situation remains on shaky ground. Sources in the market …
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Anonymous
Very good overview of the weekly steel market.
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