LEONI AG : The update on the debt refinancing concept indicates a massive dilution of shareholders
>Major dilution of current shareholders’ to be expected - Leoni released an ad hoc note with an update on their debt refinancing activities. They announced that negotiations with syndicate banks suggest there will be no solution without a capital cut by the shareholders with a subsequent capital increase (the exact form still needs to be determined), which ultimately will largely dilute current shareholders’ existing holdings. Syndicate banks shall accept a conversion...Leoni AG acts as the holding company, engaged in providing wires, optical fibers, cables and cable systems as well as related services for applications in the automotive sector and other industries. Co.'s business comprised of two divisions: Wire & Cable Solutions (WCS), which develops, produces and assembles wires and strands, optical fibers, standard and special cables, hybrid and optical cables as well as complete cable systems for a variety of industrial applications; Wiring Systems Division (WSD), which develops, produces and sells cable harnesses, complete wiring systems as well as related components for the global car, commercial vehicle and supply industry.
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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