OHL investor Societe Generale increases stake to 5.415%
Obrascon Huarte Lain (OHL) investor Société Générale has increased its stake in the Spanish construction group to 5.415%, Expansion reported.
The French bank has become OHL’s second-largest shareholder after acquiring a further 4.3m shares, and currently controls 5.4m shares of OHL, the unsourced Spanish-language report said.
Inmobiliaria Espacio, a unit of Grupo Villar Mir, has historically been OHL’s largest shareholder with a 59.5% stake. The hedge-fund Tyrus Capital Event has acquired pre-emptive rights over 21.78m of the new shares OHL will issue on 30 October as part of its announced capital increase transaction. The fund will control 7.3% of OHL.
OHL's share price jumped on by 3.66% Tuesday (13 October) to EUR 8.5, while subscription rights rose by 16.66% to EUR 7.02, the report noted.
OHL expects to raise EUR 999m from the capital increase. It will issue 199m shares representing 85% of its capital.
Expansion