Risanamento Flags Urgent Capital Measures as Losses Deepen
The property group cited 2020 losses and delays to a fund restructuring as its board prepares to consider measures on October 28.
Key takeaways
- Risanamento said its financial position had worsened and urgent measures were needed.
- The company cited 2020 losses of 32.75 million euros and delays to the MSG Heartbeat restructuring.
Risanamento said its financial position had worsened and that urgent action was needed. Its board reviewed preliminary accounts and will consider measures at a meeting scheduled for October 28.
The company cited 2020 losses of 32.75 million euros, delays to the restructuring of the MSG Heartbeat fund, and the absence of a capital strengthening. It also said Bizzi & Partners had requested an extension to its payment commitment.
Risanamento said completing the Step-In could improve its capital profile, but there is no certainty about whether it will happen, when, or with what outcome. As of 09:08 UTC, shares traded at 0.027 euros, down 20.12% since the previous close.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
