The share price of Ascendis Health was heading for a second session of double-digit losses on Wednesday, after the group announced on Tuesday it had accelerated its asset disposal programme to battle a debt pile that is about 20 times its R313m market capitalisation.

Ascendis reported that debt had risen by more than a fifth in its year to end-June on Tuesday, when its share price had its worst day in five months. Losses were extended on Wednesday, with the group’s share price falling 11.9% to close at 59c — its lowest since April.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now