MADRID, 25 Mar. Repsol has raised a total of 1,235 million dollars (870.3 million euros) by selling its 7.67% stake in YPF through a public offering (IPO) after exercise underwriters of the 'green shoe', said Friday the oil to the National Securities Market Commission (CNMV). Specifically, the placement institutions have fully exercised the purchase option granted by the oil of 3.93 million shares of YPF, representing 1% of capital.
Thus, the total size of the offering of shares, fully in place, amounting to 30.14 million shares at a price of $ 41 (28.8 euros) per share. After the operation, the participation of Repsol YPF's capital will be in the 68.23%. This anticipated that the closing of the offering, subject to customary conditions, take place next Monday, March 28.
Banks acting as underwriters of the offering have been Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co, Itau BBA, Morgan Stanley, Raymond James and Santander Investment. Repsol placed this week by 6.67% IPO of YPF's capital, equivalent to 26.21 million shares, for a total of 1,074 million dollars (756.8 million euros).
The oil company recently indicated that this process is part of the strategy outlined in its "Horizon 2014", "to divest part of YPF to rebalance its portfolio of assets." Thus, Repsol had already announced last year its intention to divest YPF at a rate that allows you to keep more than 50% of the subsidiary in Argentina.
Thus, in recent months, oil has made divestments in the capital of YPF to place its 75.9% share. Petersen Group, with 15.46%, is the following shareholder and has an option on another 10% that has not yet exercised, while the remaining 8.64% of capital is 'free float'. In November last year, Repsol and filed for registration with the supervisor of the U.S.
market, the SEC, the prospectus for the sale of YPF shares equivalent to a 15% stake in the subsidiary in Argentina. The oil company said then that the operation would allow him to "increase the liquidity of the stock of society" and said it expected sales were "desirable from the standpoint of social interest of society", as it would seek a "greater" floating '.
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Thus, the total size of the offering of shares, fully in place, amounting to 30.14 million shares at a price of $ 41 (28.8 euros) per share. After the operation, the participation of Repsol YPF's capital will be in the 68.23%. This anticipated that the closing of the offering, subject to customary conditions, take place next Monday, March 28.
Banks acting as underwriters of the offering have been Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co, Itau BBA, Morgan Stanley, Raymond James and Santander Investment. Repsol placed this week by 6.67% IPO of YPF's capital, equivalent to 26.21 million shares, for a total of 1,074 million dollars (756.8 million euros).
The oil company recently indicated that this process is part of the strategy outlined in its "Horizon 2014", "to divest part of YPF to rebalance its portfolio of assets." Thus, Repsol had already announced last year its intention to divest YPF at a rate that allows you to keep more than 50% of the subsidiary in Argentina.
Thus, in recent months, oil has made divestments in the capital of YPF to place its 75.9% share. Petersen Group, with 15.46%, is the following shareholder and has an option on another 10% that has not yet exercised, while the remaining 8.64% of capital is 'free float'. In November last year, Repsol and filed for registration with the supervisor of the U.S.
market, the SEC, the prospectus for the sale of YPF shares equivalent to a 15% stake in the subsidiary in Argentina. The oil company said then that the operation would allow him to "increase the liquidity of the stock of society" and said it expected sales were "desirable from the standpoint of social interest of society", as it would seek a "greater" floating '.
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- UPDATE 1-Repsol raises $1.07 billion from YPF stake sale (23/03/2011)
- Repsol to sell 3.38% YPF stake for $639 million (14/03/2011)
- UPDATE 1-Private investors buy 3.83 pct of Repsol's YPF (14/03/2011)
- Repsol in $768 million Alaskan exploration deal (07/03/2011)
- CORRECTED-Repsol sees upstream output up 3-4 pct to 2014 (24/02/2011)
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