13 Feb, 2015 @ 15:46
1 min read

Aena shares soar on first day on the Spanish stock market



SPANISH airport operator Aena saw shares jump more than 21% in its market debut.

In 2015’s first major European stock market listing, Spain floated a minority stake of 44.6% in the state-owned company.

The increased share value gave Aena a market value of €10.5 billion, up from the €8.7 billion.
It is the largest Eurozone privatisation in more than a decade.

More than €1 billion worth of Aena shares – a third of the total amount in the first session – were traded on the Spanish stock exchange in the first day.

The shares ended the session valued at €70, up from €58.

“Aena will continue to be a public firm,” said Transport Minister Ana Pastor. “We will not allow the network of airports to be broken up.”

But it has been reported that the stake on offer can be expanded to a maximum of 49%.

Aena’s two main unions – CCOO and USO – have called off the 27-day strikes which were planned between February and August, threatening Spain’s vital holiday season.

Nearly 196 million travellers used Aena in 2014, making it the world’s biggest airport operator by passenger volume.

It operates 46 airports in Spain – including Malaga, Madrid and Barcelona – and 15 elsewhere in Europe, Latin America and the United States.

Imogen Calderwood

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