Bene Shares Rise Most Since 2006 After Bank Deal: Vienna MoverJonathan Tirone
Bene AG shares rose the most since March 2006 after the Austrian maker of office furniture reached a deal with its banks for new financing.
The stock rose 18 cents, or 27 percent, to 85 cents a share in the Austrian capital. Almost nine times the average number of shares traded hands than in the last 90-days, according to data compiled by Bloomberg.
Bene’s financing package “provides a realignment of the existing credit lines with longer terms,” the Waidhofen an der Ybbs, Austria-based company said. The deal refinanced Bene’s 40 million euro bond due next year and extended 14 million euros of new funding.
The company will report its half-year financial results Sept. 30.