(USA) Newsprint producer AbitibiBowater's (TSX:ABH) shares surged more than 32 per cent Thursday on hopes that the company's US$1.4 billion refinancing plan will gel next week. The shares closed at $9.75, up $2.39 or 32.47 per cent on the Toronto Stock Exchange.
The stock has been battered in recent weeks as the Montreal-based company has faced liquidity problems that threaten the solvency of its Abitibi-Consolidated subsidiary.
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The stock has been battered in recent weeks as the Montreal-based company has faced liquidity problems that threaten the solvency of its Abitibi-Consolidated subsidiary.
(To read the complete story, click the headline link above)
Comment on this story
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