Energy company Fortum's share value continued to plunge on Monday after the opening of the Helsinki Stock Exchange. The share was down by around seven percent in afternoon trading.

Shares in Fortum's German subsidiary Uniper, meanwhile, were down more than nine percent on the Frankfurt stock exchange.

The two companies' stock prices plunged on Friday after the content of Uniper's rescue package was published. On Friday, Fortum's share fell by more than eight percent, and Uniper's by almost 30 percent.

Henri Parkkinen, a senior analyst at the OP financial group, sees the fall in shares as a reaction to how details of the rescue package differed from earlier predictions.

"The market had advance expectations about what the structure of the package would be. Based on reactions on Friday and Monday, the package contained some surprising elements," Parkkinen commented to the Finnish News Agency STT.

He added that there are still many issues and details in the stabilisation package that required clarification.

"There are an awful lot of uncertainties that are still not yet known. The company is starting to implement and advance the stabilisation package. At the same time, it's difficult to predict the future of the gas market," said Parkkinen.

"The stock trends of both companies over the last few weeks show that the market is reacting to changes and new information on the matter," he said.

Fortum to retain majority stake

After the deal goes through, Fortum's ownership of Uniper will drop to 56 percent. The majority state-owned Fortum currently has a 78 percent stake in the company.

On Friday, German Chancellor Olaf Scholz promised to shield Germans from surging energy costs as the government agreed a rescue package for Uniper, which was threatened with bankruptcy due to market turmoil from the war in Ukraine.

The plan "comprises a capital increase of approximately 267 million euros for an issue price of 1.70 euros per share", which will lead to "a shareholding of the (state) in Uniper of approximately 30 percent", Uniper said in a statement.

The company will benefit from a public loan of "up to 7.7 billion euros" in mandatory convertible bonds that will eventually become shares. A credit line from a public lender will also be raised.