PGS Soars After Private Placement, but SEB Says Sell as Debt Problem Is Not Solved

• (PLX AI) - PGS shares more than 25% after it raised new equity last night.
• • PGS raised NOK 800 million at NOK 3.70 per share
• • While this keeps the optionality alive for another year, it does not fix the unsustainable capital structure, SEB said, reiterating a sell recommendation
• • The new equity issue covers less than a year of interest payments and clearly does not fix the fundamental problem of too much debt: SEB