* Synthomer rules out new equity raise amid debt
refinancing talks
* Company raises prices due to increased raw material and
energy costs
* Synthomer reaffirms 2025 revenue and earnings guidance
March 19 (Reuters) – Specialty chemicals supplier
Synthomer ruled out a new equity raise on Thursday,
saying it was making progress on debt refinancing talks as it
aims to bolster its balance sheet, sending shares soaring.
Its shares were up 51% at 27.2 pence at 0919 GMT, after
having risen more than 94% earlier in the day.
The UK-headquartered company also said it was raising prices to
pass through significant increases in underlying raw materials
and energy costs since the start of the U.S.-Israeli war against
Iran.
Synthomer’s stock last month dropped nearly 49% as investors
fretted over dilution of their shareholding after the company
said it was considering the possibility of raising fresh equity,
alongside other options, in a bid to support its refinancing.
The shares have suffered years of steep declines and their
value is still only a small fraction of their August 2021 peak
of about 42 pounds.
“The board does not currently intend to issue new equity and
is focused on concluding the debt refinancing process alongside
the divestment programme,” the company said on Thursday.
GUIDANCE REAFFIRMED, TRADING STEADY
Synthomer, which is yet to report 2025 results, also
reaffirmed its expectations for continuing revenue of about 1.74
billion pounds ($2.31 billion) and recurring core earnings of
between 135 million and 138 million pounds last year, as tight
cost savings help offset softer demand and tariff-related
disruptions.
While the Iran conflict has unsettled industries globally,
pushing up energy prices, raising costs, squeezing margins and
constraining supplies of critical raw materials, Synthomer said
trading since the start of 2026 has remained in line with
expectations.
The company, which operates across Europe, North America,
the Middle East and Asia, said its Middle East operations were
running as usual with global supply chains remaining robust so
far, though it was monitoring the situation closely.
Sales volumes in several product areas globally have also
increased, it said.
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