Alstom gets vaccine boost as it launches rights issue

By Sam Kerr
17 Nov 2020

Alstom, the French manufacturer of trains, trams and buses, has embarked upon its long-awaited rights issue with a fair wind behind it after the recent progress towards a Covid-19 vaccine.

The French company is raising €2bn to help fund its acquisition of the trains division of Canadian rival Bombardier, announced in February. The company will sell 68m new shares at €29.50 each, a 24.6% discount to the theoretical ex-rights price of €39.12.

Bank of AmericaCrédit AgricoleHSBC and 

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