Duro Felguera plummets as trading resumes
13/12/2024 13:26
** Shares in Duro Felguera MDF.MC drop around 40% as
trading resumed following three-week suspension, with the
Spanish construction and engineering company filing earlier this
week for pre-solvency proceedings to approve its restructuring
plan
** The stock was precautionary suspended from Nov. 25
** The company on Nov. 29 said it would restate its
financial statements for 2022, 2023 and first-half of 2024 due
to accounting adjustments related to Djelfa project in Algeria
** On Dec. 11, Duro Felguera and its units notified Spanish
commercial court about initiating creditor negotiations, aiming
to approve a group restructuring plan
** If losses hold, shares will see their worst day since May
2020
(Reporting by Marta Serafinko)
((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))