NH shares jump as much as 20% At the hearing this Wednesday after the National Securities Market Commission (CNMV) After the statements of the majority shareholder Minor International, it decided to lift the suspension that put pressure on the value. The decision took effect at 10:00 am and after ten minutes of auction.the company’s titles increased by 20% to 4.34 euros.
CNMV has decided to lift the suspension after clarification in a communication by the company’s main shareholder, Minor International. to foresee To purchase NH Hotel Group shares on the Spanish stock exchanges at a price not exceeding 4.5 Euros per share for a non-extendable period of 30 days. The hotel operator announced this Wednesday that the share purchase will be made at the market price, so the decision to buy at a maximum of 4.5 euros per share “has no effect”.
Within the framework of the said purchase transaction, the acquisition of the shares will be carried out at the market price, terms and conditions and the volume and price limits that MINT always deems appropriate, without determining any maximum price, and therefore, It should be understood that the reference to 4.5 euros per share in the initial communication is ineffective.“, stated the hotel operator’s statement.
there will be no takeover
In addition, the hotel has added the said purchasing process to its words.It is not intended as a takeover proposal and should not be considered in any way. Movements in accordance with the Spanish regulations in force”.
“Minor has no intention to purchase additional shares of NH Hotel Group or to encourage delisting of the said shares after the above-mentioned 30-day period has expired. In any event, If MINT decides to promote a delisting, it must submit the relevant public delisting proposal to the CNMV. would necessarily have to authorize the price of the said offer,” the company explained.