ams OSRAM : Capital increase of € 800m via a € 2.3bn refinancing plan
>Dilution of 36% on the current price – Underperform rating reiterated - ams-OSRAM announced yesterday a refinancing plan (link to the press release). While we had identified significant financing needs (> € 1bn out to H1 2025) and the risk of a capital increase, the scale of this plan came as a surprise at € 2.3bn including an € 800m capital increase. It should be sufficient to resolve ams’ liquidity issues in the short term (at least for 2025) but will be very dilut...AMS provides advanced sensor and analog solutions for high value and emerging markets. Co.'s markets include Consumer and Communications and Industrial, Medical, Automotive. Co. delivers a broad range of innovative technology solutions for consumer electronics and communication device manufacturers including intelligent light sensors, MEMS microphone ICs, NFC solutions, active noise-cancelling ICs and ultra-low power management solutions. Co. offers customized, application-specific integrated circuits and standard solutions for a broad range of industrial applications including automation and control, position sensors, building automation, security and high-resolution seismic analysis.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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