Worldline Drops on €500 Million Share Sale to Support Turnaround

Worldline SA’s stock hit a fresh low as a planned share sale worth €500 million ($576 million) failed to convince investors that the embattled payments firm can be turned around.

The transaction will “back the execution” of Worldline’s turnaround strategy, which it presented simultaneously, the firm said in a statement on Thursday, confirming an earlier Bloomberg News report. It will consist of a capital increase of about €110 million at a price of €2.75 per share, and a subsequent rights issue of about €390 million.

Worldline’s shares fell as much as much as 12.3% after initially opening higher, ...