Naturgy Raises Free Float to 15.1% After Placing 5.5% of Capital at 25.90 Euros With 7% Discount; Shares Fall Over 7%

Naturgy, Spain's leading gas company and the third-largest electricity provider, has increased its free float to 15.1% by placing 5.5% of its capital at a price of 25.90 euros per share, including a 3.5% stake sold to an international bank. The placement was executed with a 7% discount. Following this transaction, Naturgy's shares fell more than 7% and have declined approximately 30% since their market debut. The period of capital lock-up agreed upon by investors EQT, Cinven, and CPPIB is set to end in mid-August. Meanwhile, the broader Ibex 35 index experienced mild gains despite Naturgy's stock decline. Separately, many profitable companies with established structures and stable client bases face challenges regarding whether to close or sell.