Viaplay plunges on rescue plan set to wipe out most of stock's value

Viaplay AB (publ)

01/12/2023 08:15

** Shares in Viaplay  VPLAYb.ST  plunge 80% after the Swedish
streaming company announced a debt restructuring plan that
includes a share issue at a 96% discount
    ** The rescue plan includes raising new equity and debt
restructuring that will wipe out most of the value of existing
shareholders
    ** Viaplay says it will release 4 billion shares worth 1
Swedish crown each, vs Thursday's closing price of SEK 23.68
    ** It also reports Q3 operating loss of 538 million Swedish
crowns ($51.4 million) vs loss of 100 million a year ago
    ** The stock is down nearly 98% year-to-date

($1 = 10.4701 Swedish crowns)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))