Cellnex Shareholder CriteriaCaixa Sells Stake For $660 Million

By Michael Susin

CriteriaCaixa said it sold around 2.6% of its holding in Cellnex Telecom through a discounted share placing.

CriteriaCaixa--a big shareholder in some of Spain's largest companies--on Tuesday said it raised a total of 612.9 million euros ($659.9 million) by placing 18.6 million shares at a price of EUR32.91 a share. This represents a discount of around 2% discount to Monday's closing price of EUR33.58, before the announcement.

The placing was conducted through an accelerated book-building process addressed to qualified investors.

CriteriaCaixa, the holding company that manages the business assets of La Caixa Foundation, which controls Spanish lender CaixaBank, said it currently holds only the necessary Cellnex shares to serve potential exchange obligations from exchangeable bonds.

Shares at 0755 GMT were down 2.1% to EUR32.87, and are down 7.8% since the start of 2024.

Write to Michael Susin at [e-mail]

(END) Dow Jones Newswires

06-11-24 0422ET