Worldline Plans €500 Million Share Sale to Back Turnaround (1)

Worldline SA’s stock swung sharply after the company announced a €500 million ($576 million) capital raise to strengthen its balance sheet and give its turnaround plans breathing space.

The transaction will “back the execution” of Worldline’s fresh strategy, which it presented simultaneously, the firm said in a statement Thursday, confirming an earlier Bloomberg News report. It consists of an investment by three French lenders of about €110 million and a subsequent rights issue of about €390 million.

The share sale will strengthen “Worldline’s financial structure at this pivotal moment,” Chief Executive Officer Pierre-Antoine Vacheron said in the ...