(Alliance News) - OPS Retail Spa remains suspended from trading on Tuesday following the halt ordered by Borsa Italiana on Monday pending clarification.
The company explained that, due to a clerical calculation error, listed shares were issued in excess of the permitted limits during the conversion of the convertible bond loan that took place on February 25.
Specifically, approximately 8.9 million shares were issued in February, of which more than 6.4 million exceeded the established limits. The anomaly emerged following a request for clarification from Borsa Italiana.
The company subsequently informed Global Capital Investments Ud, which still holds over 6 million listed shares, and indicated that procedures will be initiated with Monte Titoli Spa to convert the excess securities into unlisted shares.
By Antonio Di Giorgio, Alliance News reporter
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