🔴 Prysmian is trading 4.36% down today after dilutive €850 million share placement

Prysmian is trading at €121.70, down 4.36% after completing an €850 million capital increase to help finance its $3.8 billion Atkore acquisition.

• The company issued 7.0 million new shares at €121.00 each, representing approximately 2.4% of pre-increase share capital and creating dilution that anchored stock near the placement price.
• New shares were priced below the September 11 close of €127.25; proceeds partially fund the all-cash Atkore acquisition.
• Settlement is expected on September 15.