Eutelsat pulled in 670 million euros from a rights issue that got way more interest than they expected, and the money is going toward their low Earth orbit satellite stuff plus the IRIS² constellation they want to build. The share sale moved about 496 million new shares at 1.35 euros each, and demand hit around 892 million euros for a subscription rate over 133 percent.
This cash dump is part of a bigger 1.5 billion euro fundraising push that already saw 828 million come in from the French government, Bharti Space, the UK government, CMA CGM, and some strategic fund back in November. The whole package is supposed to bankroll around 4 billion euros worth of spending through 2029, and it should bring their debt ratio down to 2.5 times earnings.
Everyone who bought in agreed not to flip shares for 180 days, so no immediate dumping allowed.
This cash dump is part of a bigger 1.5 billion euro fundraising push that already saw 828 million come in from the French government, Bharti Space, the UK government, CMA CGM, and some strategic fund back in November. The whole package is supposed to bankroll around 4 billion euros worth of spending through 2029, and it should bring their debt ratio down to 2.5 times earnings.
Everyone who bought in agreed not to flip shares for 180 days, so no immediate dumping allowed.
