OVHcloud: public share buyback offer now open
(CercleFinance.com) - The public stock buyback tender offer (OPRA) launched by OVH Groupe for its own shares opened today, with closing scheduled for 6 January, the cloud computing specialist announced.
The offer, denominated at a price of nine euros per share, is for a maximum of 38,888,889 shares, or around 20.4% of the company's capital and voting rights, with a view to their cancellation.
The operation, which was unveiled last October and approved by over 99% of shareholders at a general meeting earlier this month, was declared compliant by the AMF on Monday.
In a note published this morning, analysts at TP ICAP Midcap maintain their sell recommendation and advise investors to tender their shares to the offer.
The broker considers that the risk on the file has increased significantly due to the increase in financial leverage and the weakening of OVH's capacity to finance its growth.
In addition, OVH is suffering from unfavorable momentum, due to its overexposure to the European market (78% of sales), where economic conditions remain sluggish, it points out.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The offer, denominated at a price of nine euros per share, is for a maximum of 38,888,889 shares, or around 20.4% of the company's capital and voting rights, with a view to their cancellation.
The operation, which was unveiled last October and approved by over 99% of shareholders at a general meeting earlier this month, was declared compliant by the AMF on Monday.
In a note published this morning, analysts at TP ICAP Midcap maintain their sell recommendation and advise investors to tender their shares to the offer.
The broker considers that the risk on the file has increased significantly due to the increase in financial leverage and the weakening of OVH's capacity to finance its growth.
In addition, OVH is suffering from unfavorable momentum, due to its overexposure to the European market (78% of sales), where economic conditions remain sluggish, it points out.
Copyright (c) 2024 CercleFinance.com. All rights reserved.