Wed. Jun 19th, 2024
Exel’s subscription period expiring, keep an eye out for subscription rights expiration.

The conclusion of the subscription rights issue for Exel Composites is fast approaching, with investors having until June 7th, 2024 to subscribe for new shares based on their existing ownership of the company. After this date, any unused subscription rights will expire without value.

The offering gave investors the chance to purchase new shares by using their subscription rights, allowing them to buy eight new shares at a price of EUR 0.23 per share. Trading of these rights took place from May 24th to June 3rd, with subscriptions for new shares starting on May 24th and ending on June 7th. Temporary new shares began trading on May 27th, and old and new shares are currently being quoted separately on the market.

As of 1:50 p.m., the price of the old share was down by 4.9 percent at EUR 0.313, while the price of the new share was down by just 0.7 percent at EUR 0.303. Although this difference has narrowed in recent days, it still remains around three percent. In fact, it has ranged from five to eleven percent in recent weeks.

According to schedule, the series of old and new shares will be merged into a single series on June 17th for trading purposes

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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