Fidia boosts equity as Global Growth converts further POC bonds

An announcement from Fidia Spa ( (IT:FDA) ) is now available.

Fidia has strengthened its capital base with the conversion of two bonds from the sixth tranche of its reserved convertible bond loan with warrants by Global Growth Holding Limited. The move led to the issuance of 2,222,222 new shares at €0.009 each, which are being admitted directly to trading under the existing prospectus, and reflects continued use of the POC financing line.

Following this latest conversion, the POC has been subscribed for a nominal €1.5 million, with €1.43 million already converted into equity and seven bonds from the sixth tranche still unconverted. As a result, Fidia’s share capital rises by €20,000 to €11,277,761.90 and the total number of shares increases to 103,209,593, modestly diluting existing shareholders while enhancing the company’s financial flexibility for its ongoing industrial activities.

More about Fidia Spa

Fidia S.p.A., based in Turin and listed on Euronext Milan, is among the world’s leading providers of high-performance integrated milling systems. The group designs, produces and markets numerical controls, high-speed milling machines and CAM software for complex shapes, serving primarily the automotive mould-making and aerospace sectors through end-to-end milling process solutions.

Average Trading Volume: 3,026,755

Technical Sentiment Signal: Strong Sell

Current Market Cap: €731.9K

Learn more about FDA stock on TipRanks’ Stock Analysis page.