NH shares surged, climbing as much as 20 percent at one point, following a hearing held this Wednesday in which the National Securities Market Commission (CNMV) weighed the statements from Minor International, the majority shareholder. The CNMV decided to lift the suspension that had pressured the stock. The change took effect at 10:00 a.m., and market activity quickly followed with an upturn during ten minutes of trading, pushing the share price to around 4.34 euros.
The regulator’s lifting of the suspension came after a market communication from Minor International, the principal shareholder, that outlined plans related to a potential share purchase in NH Hotel Group on Spanish exchanges. The plan proposed that NH Hotel Group shares could be bought at a price not exceeding 4.5 euros per share within a fixed window of 30 days, non-extendable. The hotel operator subsequently stated that purchases would be conducted at prevailing market prices, and that the formal reference to a cap of 4.5 euros would have no operative effect.
In the context of the stated purchase transaction, shares would be acquired at the market price under terms and conditions consistent with what MINT (Minor International) has historically deemed appropriate. This means there is no set maximum price for the purchases, and therefore the initial mention of a 4.5-euro threshold should be interpreted as non-binding, according to the hotel operator’s formal clarification.
there will be no takeover
The hotel group also clarified that the planned buying activity is not a takeover bid and should not be interpreted as such. The statement emphasized that the process is being conducted in accordance with applicable Spanish regulations and is not intended to undermine any other corporate actions.
Moreover, Minor International does not intend to acquire additional NH Hotel Group shares or to push for a delisting after the 30-day window has expired. If MINT ever sought to initiate a delisting, it would need to file a formal public delisting proposal with the CNMV, and any price terms would require regulatory authorization as part of that procedure. The company underscored that no delisting move would be made without the proper approvals and that the mentioned price reference is not a binding part of the plan, as explained in the latest communications.