TSX gains after CPI shows US inflation rose 3%
Investing.com - Kepler Cheuvreux has resumed coverage of Sofina SA (BR:SOF) with a Buy rating and a price target of EUR299.70, following the end of a restriction period after the company’s capital increase.
Sofina completed its capital increase on October 7, raising EUR539 million in net proceeds and increasing its outstanding shares by 2.4 million, according to Kepler Cheuvreux.
The investment holding company is expected to raise approximately EUR0.5 billion in additional debt capital by issuing Euro-denominated benchmark senior unsecured bonds, likely in the fourth quarter of 2025 or in 2026.
Standard & Poor’s recently assigned Sofina an A- investment grade rating, which will support the company’s planned debt issuance.
The resumed coverage follows Kepler Cheuvreux’s mandatory restriction period that was in place during Sofina’s capital raising activities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.