The Spanish construction and services group Sacyr launched a share issue to cover the payment of a dividend in company securities to shareholders who take advantage of this option.

The maximum amount of the issue is 13 million new shares, a figure that will only be reached if all shareholders opt to receive the dividend in shares and not in cash, the company said late Monday in a statement to the Spanish regulator CNMV.

The company's shareholders will receive one free allotment right for each share they hold, and during a period of fifteen days they will be able to sell this right -- in the market or to the company -- or exchange it for new shares.

The number of free allotment rights required to receive one new share of the Company is 50, explained Sacyr, which undertakes to pay to acquire each right at a price of 0.062 euros gross.

The rights will be traded between January 12 and 26, and the cash payment will be made on January 30.

(Information by Tomás Cobos)