UPDATE: Shares in Entertainment One rallied 15 per cent on Wednesday after the group reassured investors that trading remained on track and that the debt issue supported its growth ambitions. Chief Darren Throop also shelled out £183,000 on shares in the company.
IC TIP:
Hold
at
154p
Investors sent shares in Entertainment One (ETO) down more than a quarter in two days after the group unveiled plans to raise £285m via a debt issue at a higher than expected coupon rate of about 6.9 per cent. The move prompted several city analysts to cut their target prices or downgrade their recommendations.