titre (au cours de 28/29 €)

English translation: shares (trading at...)

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:titre (au cours de 28/29 €)
English translation:shares (trading at...)
Entered by: silviantonia

23:26 Nov 16, 2009
French to English translations [PRO]
Bus/Financial - Investment / Securities
French term or phrase: titre (au cours de 28/29 €)
L’augmentation de capital dédiée devrait se traduire par une création de 2,5 M nouveaux titres X, soit une somme de 72 M€ au cours de 28/29 € (estimés).

Unless I am reading this wrong again, after this merger there is an increase in dedicated capital leading to the creation of 2.5 million new certificates or securities... which means a sum of 72 million euros expected to happen 'during' 28/29 as in years rather than euros? What am I missing here?
silviantonia
United States
Local time: 11:45
shares (trading at...)
Explanation:
I'm no financial expert, so couldn't hope to give you the definitive wording for this... but surely it means that this share issue would raise €72 m if one assumes they will be trading at € 28-29. 'cours' * 'rate' as used in, for example, 'foreign exchange rate' (cours des devises.

Note that 2.5 × 28.8 = 72.

I'm sure my interpretation of the financial situation may well be a bit off, but I think the underlying idea is along the right lines.

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Note added at 13 mins (2009-11-16 23:39:39 GMT)
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OK, so Mark's the expert and has got the right answer here — but I'm glad my thinking was at least going in the right general direction!

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Note added at 7 hrs (2009-11-17 07:18:05 GMT)
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From Robert + Collins:

cours d'ouverture ( Bourse )  : opening price
cours de clôture , dernier cours  : closing price | latest quotations
cours des devises ou du change  : foreign exchange rate
au cours (du jour)  : at the price of the day
au cours du marché  : at (the) market price
le cours des voitures d'occasion  : the (selling) price of secondhand cars


--------------------------------------------------
Note added at 12 hrs (2009-11-17 11:56:14 GMT)
--------------------------------------------------

That's always the trouble with dictionaries... ;-)
Selected response from:

Tony M
France
Local time: 20:45
Grading comment
Thank you so much, Tony.
4 KudoZ points were awarded for this answer



Summary of answers provided
1 +2shares (trading at...)
Tony M
3 -1securities with a nominal value
Mark Nathan
Summary of reference entries provided
dedicated capital
joehlindsay

Discussion entries: 8





  

Answers


11 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
titre in this context in conjuction with 28/29 €
securities with a nominal value


Explanation:
dedicated capital = number of shares multiplied by nominal or par value of each share.
So 2.5 million multiplied by a price of ("au cours de") 28/29 euros gives dedicated capital of 72 million euros.

Mark Nathan
France
Local time: 20:45
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Notes to answerer
Asker: I knew I was reading this wrong... Thank you so very much! I had never seen 'au cours de' used this way, either, I must admit, but usually in the context of time elapsing. And the Robert did not help this time at all...

Asker: With or without the nominal value, my final response was a mixture of your response and Tony's. The truth is that all your thoughtful comments on some of these questions gave me an actual understanding of the subject...


Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: Are you sure it's their nominal value and not their assumed market value? I think Tony may be nearer the mark.
53 mins

neutral  joehlindsay: Phil Goddard is right: "cours" is market price, not nominal value.
3 hrs

disagree  rkillings: No mention of 'nominal' at all in the quoted passage. The price given is what the shares are expected to sell for.
14 hrs
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11 mins   confidence: Answerer confidence 1/5Answerer confidence 1/5 peer agreement (net): +2
shares (trading at...)


Explanation:
I'm no financial expert, so couldn't hope to give you the definitive wording for this... but surely it means that this share issue would raise €72 m if one assumes they will be trading at € 28-29. 'cours' * 'rate' as used in, for example, 'foreign exchange rate' (cours des devises.

Note that 2.5 × 28.8 = 72.

I'm sure my interpretation of the financial situation may well be a bit off, but I think the underlying idea is along the right lines.

--------------------------------------------------
Note added at 13 mins (2009-11-16 23:39:39 GMT)
--------------------------------------------------

OK, so Mark's the expert and has got the right answer here — but I'm glad my thinking was at least going in the right general direction!

--------------------------------------------------
Note added at 7 hrs (2009-11-17 07:18:05 GMT)
--------------------------------------------------

From Robert + Collins:

cours d'ouverture ( Bourse )  : opening price
cours de clôture , dernier cours  : closing price | latest quotations
cours des devises ou du change  : foreign exchange rate
au cours (du jour)  : at the price of the day
au cours du marché  : at (the) market price
le cours des voitures d'occasion  : the (selling) price of secondhand cars


--------------------------------------------------
Note added at 12 hrs (2009-11-17 11:56:14 GMT)
--------------------------------------------------

That's always the trouble with dictionaries... ;-)

Tony M
France
Local time: 20:45
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thank you so much, Tony.
Notes to answerer
Asker: Wow, thanks to both of you as always! I am suffering from brain freeze, though, with all the acronyms and financial terms...

Asker: Ha ha... I had gone back to my Robert Collins and looked up cours right after I posted my comment, and found some of these that you posted... although under "au cours de" it specifically says during, in the course of...


Peer comments on this answer (and responses from the answerer)
agree  Mark Nathan: Well, I would not say I was an expert, but I do have a clue!
5 mins
  -> Thanks, Mark! ;-)

agree  joehlindsay: You may not be an expert but you got this exactly right. Also, "augmentation de capital" does not really mean an increase in capital, more specifically it means a 'secondary share offering': an issue of new shares after the initial offering.
3 hrs
  -> Thanks, Joe! Yes, nearly got caught out by that one myself not so long ago, and was very glad of that earlier discussion!
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Reference comments


1 day 1 hr
Reference: dedicated capital

Reference information:
Dedicated Capital is just a set term here. It does not imply that the capital is dedicated to a specific acquisition or other purpose, although that is the case here.

Dedicated Capital Definition

Total par value of a stock; calculated by taking the total number of shares outstanding multiplied by the par value of each share. Treasury shares are included in the total number of shares outstanding. also called dedicated value

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Note added at 1 day1 hr (2009-11-18 01:06:52 GMT)
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Also, for 'Nominal Value", wikipedia has a good if not comprehensive entry for explaining nomnal value:

Real versus nominal value (economics)
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Main article: Real versus nominal value
In economics, nominal value refers to any price or value expressed in money of the day, as opposed to real value, which adjusts for the effect of inflation. Changes in real value reflect only changes in the actual quantity, Q, of goods or services produced; whereas changes in the nominal value reflect the combined effect of changes in the quantity and changes in the price, P. Real values are used when one wishes to consider changes in actual material quantities, without price changes confusing the issue. They are often used for expressing prices of commodities, and for aggregate measures such as gross domestic product.
A single real value has no meaning. Real values always express a quantity existing at some point in time in terms of a quantity existing at some other point in time: for example, the output of an industry this year in terms of its output last year. Frequently, a series of real values is given, all members of the series expressing their quantity in the terms of one chosen point, which is called the base of the series. For example, one may see gross domestic product figures for a succession of years, all expressed in terms of the prices in one base year.
Real values may be expressed as a money amount: the price that the quantity concerned would have been worth in the base year; or they may be expressed by assigning the quantity in the base year some arbitrary, easy-to-calculate, index number – usually 1 or 100 – and expressing the quantities in the other years in terms of that number.
Real values index the quantities of the commodity bundle or the purchasing power of the money incomes for each year in the series.
The nominal/real value distinction can apply not only to time-series data, as above, but to cross-section data varying by region or householder characteristics.


So when capital markets people talk about Nominal Value of equities they include what the return is over time adjusted for inflation, or as contrasted to specific cross-section data.


    Reference: http://financial-dictionary.thefreedictionary.com/Dedicated+...
    Reference: http://investorwords.com/7817/dedicated_capital.html
joehlindsay
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 22
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