Soitec: stock down with directors selling shares
(CercleFinance.com) - As the second largest faller in the SBF 120 today, the Soitec share is down over 3% this morning, in a pretty flat Paris market, after a group of directors sold shares in the company.
In detail, the French semiconductor group says that some of its directors have placed, by an accelerated book-building procedure with institutional investors, nearly 1.1 million shares, or 3.3% of the group's capital.
The shares were placed at 91 euros each, representing an instant discount of 5.2%, with the sale totalling 98 million euros.
"The ordinary shares sold through the Placement derive from the conversion of preferred shares issued as part of the Company's 2016-2019 incentive plan," Soitec adds.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In detail, the French semiconductor group says that some of its directors have placed, by an accelerated book-building procedure with institutional investors, nearly 1.1 million shares, or 3.3% of the group's capital.
The shares were placed at 91 euros each, representing an instant discount of 5.2%, with the sale totalling 98 million euros.
"The ordinary shares sold through the Placement derive from the conversion of preferred shares issued as part of the Company's 2016-2019 incentive plan," Soitec adds.
Copyright (c) 2019 CercleFinance.com. All rights reserved.