France's Atos to launch reverse stock split on March 25

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France's Atos to launch reverse stock split on March 25.

stock :: 2025-03-07 :: source - reuters

By Reuters

Figurines with computers and smartphones are seen in front of Atos logo in this illustration. REUTERS/Dado Ruvic/Illustration/File Photo

Atos (ATOS.PA) said on Friday it is launching a reverse stock split as the French IT group aims to restore investor confidence after completing a financial restructuring plan last year to overcome a crushing debt crisis.

The stock split will start on March 25 and will end on April 23, Atos said in a statement.

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The company is consolidating its shares such that every 10,000 old shares, each with a par value of 0.0001 euros, will now become a new share with a par value of 1 euro.

The new shares, priced at an indicative value of 49 euros ($53.02), will begin trading on April 24.

Atos' shares are trading at all-time lows, to about half of a cent, after the company completed a 233-million-euro capital increase last year, causing massive dilution for shareholders.

The reverse stock split aims to reduce share price volatility and "support a new stock market dynamic," the firm added.

Atos, which owns the supercomputers essential to France's nuclear deterrent, will hold a capital markets day event in May to announce its new strategy.

($1 = 0.9242 euros)

(Reporting by Gianluca Lo Nostro in Gdansk; Editing by Christian Schmollinger and Janane Venkatraman)