Case study: Carbios share issue in May 2021.

Issue of 3m new shares without pre-emptive subscription rights:

Number of shares before the capital increase: 8.164m Issue price: €38 Latest price: €41 Issue proceeds (gross): €114m Compare consolidated shareholders' equity (€49m) with the amount of the capital increase, the amount of the latter to market capitalisation before the operation. What do you conclude?

Calculate the real dilution entailed by the capital increase. Compare it with the increase in book equity from the share issue.

Calculate the share that new shareholders will hold in the capital and the shareholders' equity of Carbios.

What is your conclusion? Carbios is a green chemistry company that develops innovative biological processes to recycle plastics (PET) over and over again.

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