The FT is reporting a continuing decline in the share price of French-based cash and treasury management software group XRT-Cerg.
Shares in the group fell sharply in Paris on Friday, losing 9.36 per cent to EUR3.68 with a trading volume of 110,000 units. Since the beginning of the year, the group's shares have lost close to 73 per cent of their value, the FT reports.
The group is planning a share issue for a gross value of EUR19.5m euros, the report continues. The FT says this figure should cover XRT's first half losses of EUR9.9m, and help to reconstitute capital equity. The group does not forecast breaking even until 2002.