Elis announces bond redemption as Elis stock faces 10.21 percent dilution

Elis announced on September 11, 2026, that it will redeem EUR 380.0 million of 2.25 percent convertible bonds on October 13, 2026. The company said conversion could deliver a maximum of 23,776,054 Elis shares, equal to 10.21 percent of its current share capital, making the bond timetable the clearest near-term capital-market issue for Elis stock.

Convertible bonds set the date

According to GlobeNewswire on September 11, 2026, Elis will redeem all outstanding 2029 OCEANEs at EUR 100,129.45 per bond unless holders exercise their conversion or exchange rights by October 2, 2026.

The notice lists 3,800 bonds still outstanding and a conversion ratio of 6,256.8564 shares per bond. If every holder converts, the maximum delivery of 23,776,054 shares would represent 10.21 percent of current capital, although Elis intends to use shares held after its buyback program to limit new issuance.

Revenue provides operating context

For the second quarter of 2026, Elis generated EUR 1.277 billion of revenue, up 5.40 percent from the same period a year earlier, according to Ideal Investor in its September 22, 2026 report.

The operating comparison matters because the convertible decision combines a fixed cash repayment with a possible equity settlement. The maximum share figure is therefore a ceiling for potential dilution, not a statement that all bondholders will convert.

October brings another company date

Elis lists its third-quarter 2026 revenue release for October 28, 2026, on its investor-relations calendar. The Elis investor-relations page also identifies the July 29, 2026 half-year results materials, keeping the next revenue update separate from the October bond deadline.

Capital structure stays central

Elis had a market capitalization of EUR 4.6 billion as of October 1, 2026. Against that market value, the 10.21 percent maximum share-delivery figure gives investors a concrete scale for assessing the bond conversion outcome without treating the ceiling as a completed issuance.