OHLA registered a drop of more than 6% on the stock market in the first minutes of trading this Tuesday, after JP Morgan's accelerated placement of 6% of its share capital for a total amount of 36.9 million euros.
Specifically, around 9:40 a.m., the shares of the Spanish construction company were down 6.27%, placing their price at 0.4588 euros per share.
The punishment on the stock market comes after the operation by the US investment bank JP Morgan, which has accelerated the placement of 83 million OHLA shares, equivalent to 6% of the company's capital, applying a discount of 9% compared to the closing price of yesterday's session, i.e., "0.4884".
The entity, which acted as global coordinator and sole bookrunner of the operation, has distributed this block of shares among investors at a price of "0.4446" euros per share.
The transaction is part of the agreement reached by the Mexican Amodio brothers, reference shareholders of OHLA, with another significant partner for the purchase of 100 million company shares for 44 million euros, which will allow them to increase their stake in the capital by 7.2%, reaching 28.8%.
In detail, their companies Forjar and Solid Rock will acquire this block of shares from Inmobiliaria Coapa Larca, a vehicle of the also Mexican businessman Julián Holze.
To finance the operation, Forjar and Solid Rock have signed several derivative contracts with JP Morgan referenced to OHLA shares, under which the entity has carried out this accelerated placement process aimed exclusively at institutional investors.