BIOTER stock is heading full steam ahead towards the second consecutive limit until Athens Stock Exchange, which as of 2020 operates in the Surveillance Category.
Specifically, in the first wave of auctions (between 11:58 am and 12:00 pm), the title of the company, considered one of the oldest on the Greek market, records an increase of 9.42%so it rises to 0.302 euros.
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The continuous increase follows yesterday +9.52%, resulting in accumulated change in the last two days to reach +20% (from 0.25 to 0.30 euros/share).
It is worth mentioning that because the stock is on “Watch”, its limit maximum variance equals 10% of the starting price, while the number of auctions is limited to just two, one from 11:58 am to 12:00 pm and the other from 5:08 pm to 5:10 pm.
The scenarios that push the stock
BIOTER’s two-day rally, which currently has capitalization of just 5.3 million eurosattributed to yesterday’s administration announcement on progress in its implementation Merger plan for 2020.
As he announced, the listed company has completed the payment of financial debts to the workers, while he started the transfer of real estate to bankswith the aim of reducing debt.
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Although there are no references to numbers and figures, which leaves many question marks in the investment community, there are not a few who decode the above movements as sign of reactivation of the historic technical company.
This belief is reinforced by the recent first half financial reportin which it talks about “planning the company’s return to normality with the aim of claiming new projects and developing properties, taking advantage of its many years of experience in these sectors”.
All this intensified the rumor about the possibility of finding a strategic investorbut let’s not forget that in the past there were also scenarios about a possible merger with other listed companies in the construction industry – something, of course, that had been denied.
Stuck turnover
It is certain, however, that the turnover of BIOTER remains to this day at extremely low levels (91 thousand euros in the first half), with the “net loss in the period at issue exceeded 5.3 million euros. As for him bank loansthis value is estimated at almost 186 million euros.
It is worth mentioning that, if there is no sign of progress in addressing chronic financial and capital problems (negative equity), then BIOTER’s participation in AHE runs the risk of trading suspension and permanent exclusionbased on the new HEXA regulations, which will be implemented in 2025.
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(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)