Ohla’s shares shoot 10.74% in the continuous market to mark a cross of 44.24 cents. The company has successfully completed its recapitalization plan, which included an injection of 150 million euros through capital extensions and the reduction of its debt by paying bonds. This strategy has allowed the company to have a total of 75.9 million euros in cash.
The company set on February 13 as the effective date of recapitalization, after signing agreements with its various creditors. In January, Ohla completed a second capital expansion for 80 million euros, adding to a first extension of 70 million euros. These extensions, partly subscribed by new investors, have restructured the company’s share property.
As a result of capital extensions, the Mexican brothers Amodio have reduced their participation from 26% to 21.6%, although Ohla’s main shareholders continue to be. Among the new investors are José Elías Navarro, president of Audax Renewables; the Mexican Luis Andrés Holzer, from Real Estate Coapa Larca; and José Eulalio Poza, founder of MasMóvil through Key Wolf.
The recapitalization process has led to the release of guarantees worth 100 million euros, obtaining 38 million euros for the sale of the Chum Canadian hospital and the modification of the guarantees of guarantees by 34.6 million granted by Cesce. In addition, the company has amortized an ICO loan of 40 million euros and has reduced its debt in bonds by 139 million euros.
With these actions, the main amount pending of Ohla’s debt bonds is 328 million euros, compared to the 741 million that the company had in 2018.