alitalia stock chart
After a volatile opening, including two false starts, shares picked up and by midmorning were down 12 percent at 5.41 euros ($6.36).The company said late Thursday that it will offer 1.26 billion shares to holders of its stock and bonds at a price of 80 euro cents (94 cents) apiece.Alitalia plans to offer the shares beginning Monday until Dec. 2.The capital increase is considered critical for the carrier. It operates through the following segments: Italian Motorways; Overseas Motorways; Italian Airports; Overseas Airports, Abertis Group, and Atlantia and Other Activities. The Atlantia and Other Activities segment comprises the parent company, its subsidiaries, and the companies whose business is the design, construction, and maintenance of infrastructure. For suggestions and comments, please click the Contact link at the bottom of this page.Copyright 2005 The Associated Press. Alitalia believes that the issue, worth 1.5 times the current equity of the airline and first approved by shareholders nearly a year ago, will provide a lifeline as it struggles with soaring fuel costs and competition from European carriers.Banks have been trying to work out a deal with Alitalia over the recapitalization, which aims to cut the Italian Treasury's stake in the airline from 62 percent to below 50 percent in line with European Union requirements.The Finance Ministry said Thursday night that it was committing itself to subscribing to 489.2 million euros (about $575 million) in new ordinary shares, and its stake would drop to under 50 percent as part of the recapitalization plan.The ministry said it had stressed to Alitalia's management "the need that it (the company) carry on with determination" to achieve the financial and economic objectives set out the airline's restructuring plan.News stories provided by third parties are not edited by "Site Publication" staff. The price of 13.39 EUR on the exchange Stuttgart equals a price of 15.79 USD at the current exchange rate for EUR/USD. Don't get overcharged when you send money abroad. EUR
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The Overseas Motorways segment deals with the holders of motorway concessions in Chile, Brazil, and Poland, and the companies that provide operational support for these operators and the related foreign-registered holding companies. Atlantia SpA operates as a holding company, which engages in the infrastructures and mobility network sectors. This material may not be published, broadcast, rewritten or redistributed.© 2020 Endeavor Business Media, LLC.
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