Copyright reuters
SummaryCompaniesThree French banks to subscribe to around 135 million eurosBiggest investor will not participate in capital increaseShares rise 3.7% in early Paris trading after dropWorldline sees 4% annual growth between 2027 and 2030 Nov 6 (Reuters) - French payments firm Worldline (WLN.PA), opens new tab said on Thursday it plans to raise 500 million euros ($583 million) in fresh equity to support a turnaround plan and rebuild investor confidence after years of challenges. The two-stage capital increase will begin with a 110 million euro reserved share sale to Bpifrance, Credit Agricole (CAGR.PA), opens new tab and BNP Paribas (BNPP.PA), opens new tab, followed by a 390-million-euro rights issue open to all shareholders. Advertisement · Scroll to continueReport Ad The three banks have committed to subscribe around 135 million euros to the rights issue. Upon completion of the capital raise, expected in the first quarter of 2026, Bpifrance will hold a 9.6% stake in Worldline, Credit Agricole 9.5%, and BNP Paribas 7.9%. Swiss exchange operator SIX Group, previously Worldline's biggest investor, said it has accepted dilution as it will not participate in the capital increase. Shares in Worldline rose 3.7% in early Paris trading, after swinging between gains and losses, hitting a new all-time low during the session before recovering. The volatility left the company with a market value of about 600 million euros. Advertisement · Scroll to continue J.P. Morgan analysts said in a note the new plan gives the firm credibility but that investors will want to see proof of stabilisation. Worldline, spun off from IT group Atos (ATOS.PA), opens new tab in 2014, was a standout in France's technology sector before its market value plummeted by about 97% from a 2021 peak of over 20 billion euros. The company has faced challenges including client retention, repeated profit warnings, governance instability, and a broader slowdown in consumer spending that has impacted the payments industry. A criminal probe into alleged money laundering at its Belgian unit has further damaged its reputation. Worldline has experienced cash flow pressures this year due to weaker earnings and high restructuring costs, forecasting free cash flow between break-even and a 30-million-euro loss by the end of 2025. Ad Break Coming Up NEXT StayNext OffEnglish 180p288p360p480p540p576p720pHD1080pHDAuto (180p) About ConnatixV2143625156 About ConnatixV2143625156 Continue watchingafter the adVisit Advertiser websiteGO TO PAGE On Thursday, it set longer-term targets of 4% annual revenue growth between 2027 and 2030, 1 billion euros in core earnings, and positive free cash flow as early as 2027. The company also said that the planned divestments of its mobility unit, its North American operations, and its electronic data management business will bring in up to 400 million euros in cash proceeds. ($1 = 0.8575 euros) Reporting by Gianluca Lo Nostro; Editing by Matt Scuffham, Philippa Fletcher Purchase Licensing Rights Gianluca Lo NostroThomson ReutersGianluca is a markets reporter based in Gdansk, where he covers equities and companies in France and the Benelux countries, with a keen focus on media, telecoms and fintech. Previously, he worked as a journalist in Italy, covering various beats ranging from international business and finance.Email
