11 December 2015 – El Boletin
Spain’s stock market index has 35 members once more. The Socimi Merlin Properties is going to join the Ibex 35, taking over the vacant spot left by Abengoa following its expulsion after it requested to file for creditor bankruptcy in light of its dire financial situation.
The Socimi will join the index on 21 December. The adjustment to the Ibex 35 will happen once the trading session has closed on Friday 18 December (…). In this way, the withdrawal of the Sevillian renewable energy company, which had been expected to be a temporary measure, takes on a more definitive character.
Moreover, three companies are changing their applicable coefficient for the calculation of the key indicator on the Spanish stock market. CaixaBank and Indra will both take on a coefficient of 80% instead of the 60% and 100% that they previously held respectively, as a result of recent changes in their shareholder groupings. OHL will also see its weight reduced as it decreases its capital from 80% to 60%, according to a statement by the Technical Advisory Committee (‘Comité Asesor Técnico’ or CAT) of the Spanish stock market.
Both Merlin Properties, the star of the recent acquisition of Testa Inmobiliaria, the former real estate subsidiary of Sacyr; and Cellnex, the former telecommunications subsidiary of Abertis, were heavily tipped by the experts to be the candidates to take over from the Andalucían renewable energy company.
On Thursday, Merlin’s shares suffered a 1.27% decrease, falling to €11.66 per share. Nevertheless, so far this year, the real estate company’s share price has increased by more than 16%, during which time the Ibex 35 has lost 4.7% of its value.
Original story: El Boletin
Translation: Carmel Drake