Naturgy Executive President (Natural Gas), Francisco Reynés, has affirmed that the company aims To the company return to the MSCI indexes.
Reynés stood out in a press conference where he presented the results of 2024 and the strategic plan 2025-2027 that exceed 15% floating capital would be crucial for energy to achieve the “important objective” to return to the indices where the companies of greater capitalization. In his words, “liquidity is relevant to this, and from 15% we could say that we have the mission fulfilled.”
Naturgy president stressed that the main objective of this voluntary OPA is to “return the company to its natural liquidity state, since the other alternative would be not to have liquidity and not be quoted.” Reynés emphasized that the alternative would be to have no liquidity and stop being a quoted company.
Naturgy’s proposal is to launch the voluntary OPA at a price of 26.5 euros per share until reaching 10% of the share capital, with an estimated investment of about 2.3 billion euros. Currently, the company has a 0.9% motor.
The president described the measure as “novel” and explained that the objective is to increase the ‘free float’ to an adequate level that allows Naturgy to return to the main stock market indices, especially those of the MSCI family. This would be achieved by reintroduction in the market of shares purchased, with flexibility and without a specific calendar.
Reynés said that the price of the OPA, set at 26.5 euros per share, is “reasonable and attractive” considering the value of the operation. He stressed that this price reflects confidence in the company’s potential and should facilitate the operation, which will allow shareholders to participate in it in a favorable way.
Naturgy president called for not speculating about possible conflicts of interest among shareholders and stressed that both the strategic and partial OPA have been backed by “unanimity” by all the counselors representing the company’s shareholder. Shareholders are expected to facilitate the execution of the OPA and its management.
Criteria, the Holding of La Caixa, is Naturgy’s largest shareholder with 26.7%of the capital, followed by Blackrock (20.9%), CVC/Rioja (20.7%), IFM (16.9%) and the state Algerian Sonatrach (4.1%).