Intermoney | Last Friday, with the market open, OHLA (OHLA) (Hold, Target Price under review) informed the National Securities Market Commission (CNMV) of the result of the capital increase with rights, of up to 320 million shares at $0.25 each, in which these had been trading on the stock exchange between 13 and 27 January. Finally, a total of 315,481,376 new shares were subscribed in this pre-emptive subscription period, representing 98.59% of the capital increase with rights, leaving the remaining 4,518,624 shares available for allotment in the additional allotment period, in which applications far exceeded this number, so the capital increase has been completed. The new shares will start trading on Wednesday, 5 February. The total number of shares in OHLA’s capital will then be approximately 1,191 million.
Assessment: OHLA thus completes the two capital increases, the first without rights and the second with rights, for a total of €150 million. With this amount, and the release of guarantees by the banks for about €100 million, the Group will proceed to redeem part of the bonds maturing in March, delaying the maturity of the remaining bonds from 2026 to 2029.
