CCC slides on concerns over new share issue to finance Modivo deal

Modivo SA

17/02/2025 08:40

** Shares in Poland's CCC  CCCP.WA  drop as much as 8.9% after
the fashion and footwear retailer said it has signed conditional
deals to acquire the remaining 22.81% stake in Modivo for $356
mln
    ** CCC says the acquisition will be financed through the
issuance of new shares and warrants 
    ** "Investors may not like the additional issue of
subscription warrants to AR Investments and EMBUD 2," Erste
Group analyst Piotr Bogusz says in a note
    ** Bogusz adds investors are likely reacting negatively also
due to concerns over the new share issue pricing
    ** The company sits at the bottom of Poland's mid-cap index
MWIG40  .MWIG40  

(Reporting by Marta Maciag)
((Marta.Maciag@thomsonreuters.com))