ID Logistics shares fall after capital increase

Id Logistics SAS

05/09/2024 08:54

** Shares in ID Logistics  IDLA.PA  fall around 6% after the
French firm placed new shares
    ** ID Logistics raised 135 million euros via issuance of
375,000 new shares priced at 360 euros, a 10% discount to
Wednesday's close of 402 euros
    ** It said the offering was increased to 135 million euros
from 125 million due to strong investors' demand
        ** Midcap Partners hikes its rating on the stock to
"buy" from "hold" after the increase, adding that the funds
raised should allow for  new external growth initiatives in
Europe and the U.S.
  
        ** It also points out that as a result of the capital
increase the company's free float will rise to 43% from 40%
  
        
  

 (Reporting by Anna Peverieri)
 ((Anna.peverieri@thomsonreuters.com))