Eutelsat announced on Friday the successful completion of its approximately EUR670 million capital increase, aimed at strengthening its financial structure and reviving its strategic roadmap.
The satellite operator stated in a press release that the operation was oversubscribed at 133%, with demand reaching EUR891.6 million.
The group issued more than 496.1 million new shares at a subscription price of EUR1.35 per new share, representing a significant discount compared to Thursday's closing price of EUR2.09.
Jean-François Fallacher, Eutelsat's Chief Executive Officer, said that the success of this market operation demonstrates renewed shareholder confidence in the company's long-term strategic vision.
"Combined with the reserved capital increases, this operation significantly strengthens our financial structure and gives us the means to support the deployment of our Low Earth Orbit (LEO) activities while maintaining a disciplined deleveraging trajectory," he stated.
As a reminder, Eutelsat aims to raise a total of around EUR1.5 billion to finance approximately EUR4 billion in planned investments over the 2026-2029 period, as well as to reduce its debt ratio to about 2.5x by the end of the 2025-2026 fiscal year.
On the Paris Stock Exchange, Eutelsat shares were down more than 8% on Friday morning following these announcements, trimming their overall gains for the year to just over 8%.
