investment bank J. P. Morgan reduced this Thursday its participation in the Spanish oil company Repsol, until it fell below 5% in a progressive de-escalation from the 6.8% that it reported in March 2020. Instead, Blackrock will keep the first place of the most important shareholders , with 5.19%.
According to the newspaper El País, the disappearance today of JP Morgan in the records of the National Securities Market Commission (CNMV) of Spain responds to an exemption so as not to have to communicate to the market holdings of less than 5% when these are used for trading. JP Morgan operates on behalf of its clients.
The investment bank had already lowered its shares in Repsol in the last 48 hours, after closing on Tuesday at 5.33% and on Wednesday at 5.07%, the day it lost the podium as the first shareholder against Blackrock . It is not known exactly what his current average is, although it is speculated even below 3%. Other analysts venture the totality.
Globally, the Amundi Asset fund now ranks second with 4.5% and Sacyr remains the third largest shareholder of the Spanish oil company with 3.96%. It should be noted that, in the case of the latter, the construction company announced last September that it would begin its departure from Repsol within the framework of a plan to simplify the group’s structure.
Proof of this is that Sacyr has increased its stake from 8% to 3% since then. Thus, Repsol also lost, in the last period, which it has been a reference shareholder since it entered the capital in 2006. On the other hand, it is known that Norges Bank, as of October 2021, held slightly more than 3 % Repsol.
However, Repsol shares rose 0.81% yesterday to 11.15 euros, the day on which it announced a new buyback program, which will be in force from today until the end of 2022 and will involve the acquisition of 35 million shares. owned, an amount equivalent to 2.29% of the capital.
The maximum investment of the repurchase program, at market price, the company has indicated in its communication to the CNMV, is 756.7 million euros. In addition, Repsol will propose to the shareholders’ meeting the redemption of 75 million shares, equivalent to 4.91%.
Source: Larepublica
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