Schmolz + Bickenbach: Shares soar on rescue plan agreement

Swiss Steel Holding AG

03/12/2019 08:28

** Shares in Swiss steelmaker Schmolz + Bickenbach  STLN.S 
are up around 24%
    ** Rival shareholders of the company agreed to terms of a
rescue plan on Monday; capital increase approved  urn:newsml:reuters.com:*:nL8N28C4E8
    ** The plan comes after a weeks-long power struggle over
control of the money-losing Swiss steelmaker  urn:newsml:reuters.com:*:nL8N28B07I
    ** Last week, its shares fell as much as 7% after the
company's second-biggest shareholder warned in an interview the
company would seek bankruptcy should it fail to win approval for
a capital increase  urn:newsml:reuters.com:*:nL8N2871WR
    ** The stock is set for its best day ever

 ((bartosz.dabrowski@tr.com))