Mps collapses on the stock market: theoretical drop of 34%
Mps never entered into trading on the day in which the Sienese institute applied the reverse stock split (one new for every 100 old) approved by the shareholders’ meeting of last September 15th. The Mps stock is thus assigned a ‘theoretical’ decline of over 34%, with no price indication. Should this price be confirmed tomorrow at the opening of Business Squarethe shares would drop to almost 20 euros from around 30.5 today (compared to € 0.305 before grouping). The grouping is preparatory to the capital increase from € 2.5 billionso the management is working with the aim of finding investors willing to participate.
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