Victoria PLC shares rise after refinancing tackles debt, dilution remains priced in
Victoria PLC bucked the small-cap trend. The stock last dealt at 74.80p, up 28.97%, during the 0800-1630 BST main London session, according to Google Finance. Volume hit 2.05 million shares, well ahead of the 230,400 average. The AIM index slipped, so this was a one-off recapitalisation move and not about the market. The share move tracks if you treat the stock as a claim on a balance sheet getting redrawn. Victoria’s market cap stood at £86.28 million at 74.80p. The suggested cut to senior debt and preferred shares is over triple that equity, so the stock today is moving more on relief about near-term refinancing risk than any new sales figure.