Georg Fischer seen up as it withdraws capital increase plan
23/02/2024 07:57
** Shares in Georg Fischer GF.S are seen up 3% in Julius
Baer premarket trade after the Swiss industrial group withdrew
its plan for a capital increase to finance the takeover offer
for Finland's Uponor UPONOR.HE
** The shares' underperformance since the bid was made last
June can be a reason for Friday's decision, Vontobel says
** "There will be also no dilution for existing shareholders
and a major uncertainty has been removed. In our view, a
positive decision," the broker adds
** Baader Helvea also sees this as good news, saying
"investors can now fully concentrate on the operating
performance and future growth of the company"
** Georg Fischer is seen on top of the Swiss mid-cap index
.SMIM
(Reporting by Amir Orusov)
((Amir.orusov@thomsonreuters.com))