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Shares in ConvaTec now trade below IPO price

The company suffered a huge share price blow as supply issues hit sales growth
Thursday 26 Oct 2017 Author: Lisa-Marie Janes
Story In Numbers

Shares in FTSE 100 woundcare specialist ConvaTec (CTEC) have fallen below the price at which it joined the stock market exactly a year ago. At 214.4p, they now trade 4.7% below the 225p IPO (initial public offering) price.

Supply issues have ‘severely impacted’ ConvaTec’s advanced wound and ostomy care division resulting in the company cutting its full year sales growth guidance.

Full year sales growth was cut from 4% to a range of 1% to 2%, causing the shares to drop more than 20% in value on 16 October.

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26 Oct 2017

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