{
KTM AG

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}

pierer mobility shares fall as ktm unit files for insolvency

Shares of Pierer Mobility AG plummeted after its KTM AG motorbike unit announced plans for self-administered insolvency in Austria. The company faces a significant financing shortfall, estimated in the "very high three-digit million euro" range, and aims to negotiate a reorganization with creditors within the next 90 days.
bloomberg.com
Euro PIERER Mobility AG KTM AG AUT
Finance & Economy, News Article
16:20 26.11.2024

pierer mobility shares plunge as ktm unit files for insolvency

Shares of Pierer Mobility AG plummeted 45% to 6.9 Swiss francs after its KTM AG unit filed for self-administered insolvency in Austria, citing an inability to meet a significant financing requirement. The company plans to negotiate a reorganization with creditors over the next 90 days, amid a broader industrial crisis and declining motorbike demand in Europe. Production will be restructured, with a reduction in output from Austrian sites projected to exceed €1 billion over the next two years.
SWI swissinfo.ch
Euro Swiss Franc Bajaj Auto Limited PIERER Mobility AG KTM AG Pierer Industrie AG AUT Stefan Pierer Show more
Finance & Economy, Market Report
16:20 26.11.2024
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