Mps fails to trade on the stock exchange, closes at -34% – Last Hour


(ANSA) – MILAN, SEPTEMBER 26 – On the day when the grouping of shares becomes effective, a preliminary operation to the capital increase, Mps is unable to make a single exchange in Piazza Affari, being assigned, at the end of the session, a decrease theoretical 34.5%, without price indication. If the collapse were confirmed tomorrow when trading resumes, the stock would drop from € 30.5 per share at which it was restarting today, to around € 20, seeing its recapitalization collapse from € 300 to € 200 million in a single day. A nightmare feared by the small shareholders, who at the meeting had asked not to proceed with the grouping fearing to incur yet another “massacre” of their capital, already cut down by losses in recent years.

“The reverse stock split does not determine any change in the share capital or therefore in its market value, consequently it will have no impact on the market value of the investments as the reduction in the number of shares will be accompanied by an upward change in the market price according to the same inverse multiplier “, the reassurances that the managing director Luigi Lovaglio, had tried to offer to the shareholders, frightened by a ‘film’ – grouping and subsequent fall in the value of the stock – which they had already witnessed in the past. The grouping, explained the banker, “is functional to the increase” as it simplifies the administrative management of the securities and makes trading more efficient. (HANDLE).



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