HelloFresh announces buyback of shares and convertible bonds worth up to 150 million euros.

HelloFresh announces buyback of shares and convertible bonds worth up to 150 million euros.

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According to a report from www.finanzen.net, the meal kit delivery company HelloFresh has announced that it will spend up to 150 million euros to buy back shares and part of its issued convertible bonds. The convertible bonds, which were issued in May 2020, are expected to be repurchased to a lesser extent. The buyback is intended to be used either to reduce the share capital or to fulfill the obligations arising from employee participation programs.

This announcement from HelloFresh has already had an impact on the company's share price. The shares lost 8.05 percent of their value on Thursday and fell to 22.38 euros. The shares of Delivery Hero and Just Eat Takeaway (Just Eat Takeawaycom) also experienced a decline of almost three percent. Analysts describe HelloFresh's third-quarter customer numbers as disappointing, as the number of active users fell to 7.07 million from 7.30 million in the previous quarter. Although the decline was smaller than in the second quarter, experts had expected a stable or slightly increasing base. The increased marketing effort in September after the summer holidays apparently only paid off to a limited extent.

This development unsettled investors and influenced the share price. HelloFresh has recorded a loss of almost 40 percent since mid-September. The US analysis firm Bernstein Research leaves HelloFresh at “underperform” with a price target of 17 euros. The company's quarterly figures missed expectations in terms of customer development, order situation and sales.

These developments in HelloFresh's share price could continue to have an impact on the market. Consumers may be less willing to invest in the company due to loss of trust, which could lead to a decline in customer numbers. The meal kit delivery industry could also be affected by these developments, as it relies heavily on consumer trust and customer loyalty.

Overall, the situation remains challenging for HelloFresh. The company must take measures to regain the trust of investors and customers and strengthen its position in the market. It remains to be seen how the buybacks of shares and convertible bonds will affect the company's financial situation and capital structure.