|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||2.9000 - 3.6750|
|52-week range||1.1184 - 108.3333|
|Beta (5Y monthly)||1.76|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||20 May 2013|
|1y target est||49.40|
MILAN (Reuters) -Italian energy services firm Saipem said it would challenge Tuesday's decision by an Algerian court to uphold a previous ruling and fine against the company in a case centred around a natural gas contract. Saipem said in a statement the court of appeals of Algiers had ruled the company and some of its units obtained the Arzew contract with a higher price than warranted. Saipem said the upheld ruling had imposed fines and damages on Saipem and its units for an amount equivalent to 199 million euros ($209 million) at current exchange rates.
MILAN (Reuters) -Italy's Saipem said on Thursday it would have financial resources available for less than one year if its plans to raise capital did not go through. The Italian energy services group on Wednesday launched a 2 billion-euro ($2.10 billion) rights issue, which will start on June 27, as it strives to bolster its finances and refocus its business after a surprise profit warning in January. As part of the so-called Financing Package, Energy group Eni and Italy's State lender CDP, which control Saipem, have committed to subscribing 44% of the capital hike while banks had pledged to subscribe any unexercised rights up to 1.12 billion euros.
Italian energy services group Saipem said on Wednesday it would launch a planned 2 billion-euro ($2.10 billion) rights issue from June 27 as it strives to bolster its finances and re-focus its business after a surprise profit warning in January. The group earlier this month announced the sale of its onshore drilling business to Britain's KCA Deutag (KCAD) for $550 million, also part of the turnaround plan.