After the suspension… FC Porto SAD shares “return” to the stock exchange, with an increase of 8%

FC Porto SAD shares rose this Thursday, April 4, by 7.83% to €1.24, in what was considered a “return” to trading on the Lisbon Stock Exchange after the suspension of the Securities Market Commission (CMVM).

The regulatory body had suspended Porto SAD shares on Tuesday morning after an interview with Porto club president, Jorge Nuno Pinto da Costa, in which he addressed issues related to the club's finances and communication with Quadrantes, ensuring that the club is not… A hostage of this investment fund.

“Of course. It's ridiculous. FC Porto needs a loan, and benefits from the interest payments it makes, so would I doubt who is helping me? If the Fund wants to lend more money, there is no shortage of people.” “I don't know if it's Quadrantes or not. But it's up to Quadrantis or whoever. Portuguese banks have closed the door to FC Porto, but we are working with foreigners.”

On Tuesday morning, after the suspension of securities trading, FC Porto's subsidiary, SAD, issued a statement, “following the interview with its president,” saying that it “hopes to finalize the contract with a reputable international company, with recognized experience in improving commercial revenues.” . Related to major sports equipment, until June 30, 2024”, which will lead to the acquisition of “a minority stake in one of the companies with commercial rights of the FC Porto group, through a capital injection of an estimated amount of between 60 and 70 million euros, as previously reported to the market.” “.

In the same document, Porto SAD revealed that it is in negotiations to recast its medium and long-term debt worth €250 million. “Although funding has not yet been closed in this regard, Futebol Clube do Porto – Futebol, SAD is negotiating the recast of its medium and long-term debt With an amount estimated at 250 million euros, at a competitive interest rate Market conditions,” can be read in the statement.

On Wednesday, the regulatory body completed the lifting of the suspension on FC Porto SAD shares. “The Board of Directors of the Securities Exchange Commission (CMVM) decided on April 03, 2024 at 09:15 (UTC), in accordance with Article 214 and paragraph b) of Paragraph 2 of Article 213 of the Securities Act, to lift the suspension of trading in Shares of Futebol Clube do Porto – Futebol and SAD, after disclosing relevant information to the market.