Repsol slumps after sale of 5% stake on stock market

摘要

Madrid-Spanish oil major Repsol sold a 5% stake in itself to private investors for Eur22.35/share on the Madrid Stock Exchange January 11, prompting a sharp fall in its share price as the sale was done at a price considerably lower than the value of the company's stock ahead of the sale. Representing half of a 10% stake it acquired from debt-laden shareholder Sacyr three weeks ago, Repsol said it sold just over 61 million shares for a total of Eur1.36 billion ($1.72 billion).