The 400 million euro capital increase cost 65 on the stock exchange Juventus. Yesterday, in fact, the stock fell to a value of 0.63 cents for a capitalization of 839 million euros.
As he remembers MF-Milan Finance, the company chaired by Andrea Agnelli it will issue almost 1.2 billion ordinary shares to be offered to shareholders in option in the ratio of 9 for every 10 shares held. The subscription price was determined at € 0.334, with a 35.3% discount compared to the close on Monday.
Exor – as communicated by Juventus itself – has already undertaken to subscribe the pro-quota transaction (63.8%), paying approximately 255 million (75 of which brought forward to August). The question now arises on the market whether it will do the same Lindsell Train, second shareholder with 11.2% and already critical of the Superlega transaction.
The rest of the free float is mostly in the hands of individual investors who are probably one of the factors behind the wave of sales that hit Juventus yesterday. However, they changed hands during the session nearly 16.5 million pieces for a value of over 10 million euros.
It is – underlines MF – of unusual values for club titles which, for example, were traded 10 times less on Monday. The surge in negotiations could therefore hide initiatives by some institutional investor, a possible new partner, ready to take advantage of retail sales to build positions in the company’s capital.