By Suzanna Kerridge, 3 May 2000 15:22
NEWS Besieged ERP vendor Baan's last hope of financial support was in jeopardy today as its shares took a nosedive. The company had counted on E150m (£85.6m) from investors Bear Stearns to sustain its business long enough to raise the share price and avoid expulsion from the Amsterdam Stock Exchange. However, as shares dropped 16 per cent from E3.05 (£1.74) to just E2 (£1.14), there was growing analyst speculation that the deal might falter. Baan confirmed Bear Stearns had specified a minimum level for the financial package but would not reveal the amount. The recent drop in share price follows a week of poor market performance that saw the company's price fall to E2.55 (£1.45), compared to a 52-week high of E16.16 (£9.23).
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below