Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© Elcoteq Electronics Production | July 19, 2011

Elcoteq shares 55% down on insolvency proceedings

Shares in Elcoteq plummeted after the EMS-provider announced it would apply for insolvency proceedings (controlled management under Luxembourg law).

Shares were down 55% standing at EUR 0.33 (GMT 08:15). However, shares had briefly gone down to a record low of EUR 0.21, reports Reuters. Danske Bank, acting as an agent for a group of banks, decided to accelerate its outstanding revolving credit facility, which forced Elcoteq to apply for controlled management in Luxembourg in order to continue operations. (see related news).
Ad
Ad
Ad
Ad
Load more news
October 11 2019 3:09 pm V14.5.0-2