AENA shares go up to €58 ahead of stock market launch
Wednesday, February 11, 2015 @ 11:29 AM
SHARES in Spain's airports are likely to be priced at €58 each following a revaluation of the State-run governing body's assets.
The Spanish government has decided to float 49% of the airport management company, AENA's shares on the stock market, and has launched a series of presentations to would-be corporate buyers.
AENA's share price is expected to be calculated at the upper limit of the top band initially valued of €53 to €58, meaning the airport firm's total assets are considered to be worth €8.7 billion.
This puts AENA 22nd in the Spanish stock market in terms of capital, only just behind Banco Sabadell at €8.8bn and ENEL energy at €8.64bn.
Spain's government would therefore earn €4.263bn from the AENA share flotation.
The final price will not be known until tomorrow (Wednesday, February 11) when the share offer goes live.
Read more at thinkSPAIN.com