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Puig edificio

Spanish economy 9th July 2024

Puig to be listed on Wall Street through ADR programme equivalent to 25 million shares of company’s stock

Norbolsa | Citi, in addition to the company itself, launches an ADR program through which Puig will be listed on Wall Street to satisfy the interest of American investors in the company. The programme is equivalent to 25 million shares of the company. As it is an unsponsored ADR programme, i.e. the company has not been involved in the programme, the company has no additional regulatory needs due to its…

industria 1

Spanish economy 9th July 2024

Industrial production in Spain rises 0.4% year-on-year in May against 0.2% previously

Link Securities | The National Statistics Institute (INE) published that industrial production in Spain fell by 0.1% in May compared to April in seasonally and calendar adjusted data. By sector of activity, in May the production of Energy increased by 1.4% and grew the most, while that of Capital Goods fell the most, by 1.1%. On a year-on-year basis, industrial production, adjusted for seasonal and calendar effects, increased by 0.4%…

grifols blood bags

Spanish economy 9th July 2024

Grifols family and Brookfield considering takeover bid to delist Grifols from stock exchange

Grifols (GRF) informed the National Securities Market Commission (CNMV) yesterday that on 7 July the Board of Directors of GRF, at an extraordinary meeting, received a request from GRF’s family shareholders and Brookfield Capital Partners (UK) Limited to allow access to certain company information in order to carry out a due diligence process in relation to a possible acquisition of GRF shares. The Board was informed that the purpose of…

Iberdrola Guggenheim

Spanish economy 9th July 2024

Iberdrola overtakes historical leader Endesa as largest electricity retailer in Spain, with over 10 million contracts

Link Securities | According to the latest data compiled by the National Markets and Competition Commission (CNMC), Iberdrola is consolidating its position as the largest electricity retailer in Spain by number of customers, taking this position away from Endesa, historically the leading electricity company, according to today’s edition of the Expansión newspaper. Iberdrola managed to remain above ten million contracts with 10,116,303, a market share of 33.33%; while Endesa decreased…

bbva sabadell

Spanish economy 8th July 2024

BBVA to issue up to 1,126 million new shares to Banco Sabadell shareholders who accept offer of one BBVA share for every 4.83 Sabadell shares

Link Securities | The digital portal Bolsamania.com reported on Friday that 96% of BBVA shareholders gave their approval to the capital increase required for the takeover bid for Banco Sabadell at the Extraordinary General Meeting held on Friday. The quorum at the meeting was 70.75% and the shareholders gave “their firm support to the capital increase necessary to extend our offer to SAB shareholders”, said the chairman of the Basque…

industrial production worker

Spanish economy 8th July 2024

Spanish industrial production shows less dynamism: activity falls 0.1% month-on-month in May

BancaMarch : In Spain, this Friday, industrial production data have been published showing a lower dynamism: the sector’s activity fell by -0.1% monthly in May and previous data were revised downwards, which places the growth rate against last year at +0.4%, a rebound of two tenths compared to the previous month. By sector, and in indices adjusted for seasonal and calendar effects, Non-durable consumer goods (+2.7%) presented the highest annual…

Repsol novedad

Spanish economy 8th July 2024

Repsol reaches agreement for sale of portfolio of generation assets for €140 million

Renta 4 : Agreement for the sale of a portfolio of distributed generation assets in France for €140 million. According to press reports, Repsol has reached an agreement to sell a portfolio of distributed generation assets in France to the French company Altarea for €140 million. These assets are part of the projects acquired in 2023 from the Asterion Industrial Partners fund, when it bought a portfolio of 7,700 MW…

stock markets 777x400 1

Spanish economy 8th July 2024

Spanish stock market (PER 14x) trades at a significant discount to other European indices (Eurostoxx PER 16.2x)

Deutsche Bank | The Ibex trades at a significant discount to other European indices, with a 12-month PER (Price Earning Ratio) of 14x, compared to 16.2x for the Eurostoxx. The high weight of the financial and electricity sectors also means that the Spanish selective index has a particularly attractive 12-month expected dividend yield of over 5%, against the Eurostoxx’s 3.9%. Until the end of 2023, the selective Ibex index had…

BBVA Holvi

Spanish economy 5th July 2024

BBVA holds an Extraordinary General Shareholders’ Meeting today to approve the bid for Banco Sabadell

BBVA is holding an Extraordinary General Shareholders’ Meeting today at the Palacio Euskalduna in Bilbao, at which it is expected to approve the takeover bid (hostile takeover bid) for Banco Sabadell, and the capital increase -of 20%- necessary to make the bid, at a ratio of one new BBVA share for every 4.83 Banco Sabadell shares. At the time the offer was made public, this offer represented a premium of…

Europe SMEs

Spanish economy 4th July 2024

SME employers’ association blasts government: “it adopts communist theses”, with an “interventionist and persecutory” policy

Gerardo Cuerva, president of Cepyme, the employers’ association for small and medium-sized enterprises, has particularly attacked the latest negotiation on the reduction of working hours, which is just “the latest example of how the government acts unilaterally, without evaluating its measures and to the detriment of business. The truth is that it is proving that there is little room for private enterprise in the face of a government that adopts…