FRANKFURT (dpa-AFX) – In connection with the capital increase of the travel group, the Tui shares were traded ex subscription rights on Friday. This is one of the reasons why a visually large minus of about 25 percent to 4.07 euros was on the price list. The subscription rights last cost 2.40.
The subscription price for the new shares was set at EUR 1.07 with a subscription ratio of 29 to 25. This means that existing shareholders can buy 25 more shares at EUR 1.07 each for 29 shares in the course of the capital increase.
Analyst Herbert Sturm from DZ Bank lowered the fair value for Tui shares from 1.70 to 1.40 euros in the course of the planned capital increase. He confirmed his sell recommendation on Friday in view of the associated price risk./mis/tih/he