Urbas’s Share Price Soars by 44% After Appointment of New President

16 January 2019 – Eje Prime

Urbas Grupo Financiero saw its share price skyrocket on the stock market after appointing its new President. The company closed the day with gains of more than 44% on the main stock market, its largest daily increase since March 2016. The rise coincided with the arrival of Juan Antonio Acedo Fernández as the head of the company.

Specifically, the share price of Urbas skyrocketed by 44.18% on Wednesday to €0.0062, after opening the day at €0.043 per share. That boost took the company to levels not seen since October last year, according to reports from Europa Press.

A road engineer by background, the new President of Urbas has more than 25 years of experience in the real estate, construction and energy sectors, “where he has held several positions of maximum responsibility”, highlighted the company in a statement sent today to Spain’s National Securities Market Commission (CNMV).

At the end of the ninth month of 2018, Urbas owned a land portfolio spanning 18 million m2, spread over the regions of Aragón, Andalucía, Madrid, Castilla-La Mancha, Castilla y León, Murcia and Valencia. Currently, the company’s assets are valued at €34.8 million.

Original story: Eje Prime

Translation: Carmel Drake

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