Ubisoft requested a suspension of trading of its shares and postponed the release of its financial report
On the evening of November 13, Ubisoft was supposed to release its report for the first half of the current fiscal year but changed its mind at the last moment. The release was postponed just 15 minutes before the scheduled publication time.
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The company did not provide any details and now intends to report “in the coming days.”
Simultaneously, Ubisoft has requested the European stock exchange Euronext to pause trading of its shares and bonds. They want trading to halt in the morning of November 14 and resume after the release of the semi-annual report.
As reported by Insider Gaming, which obtained a copy of an email from Ubisoft's CFO, Frederick Duguet, to the company’s employees, the trading halt is being implemented as a protective measure. Due to legal regulations, Ubisoft cannot discuss the reporting delay in detail, and they are concerned that this might lead to speculation and volatility in the stock price.
Niko Partners analyst Daniel Ahmad speculates that Ubisoft might be preparing a major announcement, such as an acquisition announcement. However, the delay in the report release could also be caused by accounting issues.
Since the beginning of the year, Ubisoft's shares have decreased in value by 47.36%. At the close of the market on Thursday, they were priced at 6.77 euros each.