Hispania´s Two Underwriters Sell Out Almost All Their Shares

21/04/2014 – El Confidencial

Goldman Sachs and UBS informed the National Stock Market Commission (or the CNMV by its abbreviation in Spanish) about complete execution of their ´green shoe´ right of nearly €5 million shares (10% of the entire stake) granted to them by Hispania Activos Inmobiliarios.

Few days later, the Swiss bank cut in its holding by 50%, tightening it from 1.75 million to 755.939 shares, equal to 1.5% of the REIT firm´s capital. Also, Goldman Sachs went on reducing its stake until crossing 3% to 1.4 million share ownership. Together, they hold now 2.1 million securities which is not even a half of the €5 million amount they have executed through the ´green shoe´option.

At the moment, shares of Hispania sell for around 10.37 euros a share with top of €10.95 since its flotation in early March this year.

Last week, the REIT company (known as a Socimi in Spain) acquired the Hotel Guadalmina SPA & Resort, situated in Marbella (Malaga) for €21.5 million, paid from own funds raised at the initial public offering (around €500 million).



Original article: El Confidencial

Trnalsation: AURA REE