Italian shipbuilder Fincantieri drops after discounted share issue

Fincantieri SpA

19/02/2026 09:27

** Shares in Italy's Fincantieri FCT.MI fall as much as 10% after launching on Wednesday a placement to institutional investors of new shares worth up to 10% of its capital

** The shipbuilder raised almost 500 million euros ($590 million) by selling new shares at 15.32 euros each, a 7% discount to the previous closing price

** Equita says the deal gives the company more financial flexibility and supports plans to increase production capacity, but estimates a roughly 5% dilutive impact on 2027-2028 adjusted earnings per share (EPS)

** The brokerage trims its target price by 3% to 18.10 euros per share, adding net leverage should decline to 1.9x-1.6x in 2026-2027 from the previously estimated 2.6x-2.3x

** Banca Akros expects Fincantieri to use the proceeds to finance its capacity expansion plan set out in the 2026-30 business plan

** The stock hits its lowest since June 2025

($1 = 0.8474 euros)

 (Reporting by Laura Contemori)

 ((Laura.contemori@thomsonreuters.com))