the actions of The BCP sank on Thursday to 11.37% for 14,27 cents. From falls exceeding 10%, the Commission of the Market of Values Mobiliárois (CMVM) has the power to temporarily restrict the gamble of losses, the so-called “short selling”, or short sales. And this was what was decided today.
“THE SECURITIES market commission decides to ban short sales of the shares representative of the share capital of Banco Comercial Português, S. A. (ISIN: PTBCP0AM0015) on Euronext Lisbon, a regulated market managed by Euronext Lisbon – Sociedade Gestora de mercados Regulamentados S. A., under the terms of art. 23.No. of Regulation (EU) no. 236/2012, with effect from 00h00m 20 January 2017, until the 23h59m of the same day”, indicates the release of the regulator.
According to the CMVM, the “fluctuation of the price of the shares cannot exclude the occurrence of a phenomenon of speculation with negative impact”.
So, in the session this Friday, investors can only take long positions, or positions where only earn with valuations of the shares, have already banned the practices that benefit from the devaluation of the securities.
the decision of The regulator, chaired by Gabriela Figueiredo Dias (in the photo) is taken in full of the capital increase of the bank chaired by Nuno Amado. This Thursday was the first day that they were negotiating for the rights which allow the subscription of new shares that will be issued in the framework of the strengthening of the capital of 1.33 billion euros, which BCP is implementing. The ban “short selling” is determined in the second session in which these rights negotiated.
The rights will trade on the stock exchange until 30 January, while the exercise period ends on the 2nd of February. Each right allows for the purchase of 15 shares, upon payment of 9.4 cents for each one. Here you can keep track of the price of rights. And here actions.
(updated News with more information at 20:15)