In today’s briefing:
- Soltec: Sponsor-Led Recapitalisation, Equity Reset and Trading Resumption
Soltec: Sponsor-Led Recapitalisation, Equity Reset and Trading Resumption
- Equity reset: Sponsor-led restructuring reduced debt, extended maturities to 2031 and transferred control to DVC Partners, materially lowering near-term insolvency risk but leaving execution risk high.
- Trading: Resumption (December 19) likely volatile, with forced sellers meeting opportunistic buyers; early price action expected to reflect liquidity and positioning rather than fundamentals.
- Valuation framework: At reopening levels, equity reflects distressed stabilisation; upside depends on margin discipline and avoiding further dilution, not on near-term growth.
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