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HomeLatest NewsRepsol executes a capital reduction after redeeming 50 million shares

Repsol executes a capital reduction after redeeming 50 million shares

Date: November 29, 2023 Time: 02:17:25

The energy multinational Repsol has announced the execution of a capital reduction worth 50 million euros after redeeming the same number of treasury shares, all with a nominal value of one euro and representing approximately 3.63% of the share capital. .

As the company announced to the National Securities Market Commission (CNMV) this Thursday, the Board of Directors approved the operation on October 26, and its objective is to redeem its own shares in order to improve the shareholder remuneration thanks to the increase in earnings per share.

36 million treasury shares acquired in the share repurchase program that ended this Thursday, 2.85 million treasury shares and 11.15 million from the settlement of derivatives on treasury shares contracted by the company prior to October 26. Following this operation, Repsol’s share capital has been set at around 1,327.4 million euros, equivalent to the same number of one-euro nominal value securities.

Repsol seals an alliance with Fnac

Repsol continues with its particular commercial ‘war’ for customers to win electricity and gas. The objective of the energy is to continue with an organic growth in this business. The oil company bought the assets of Viesgo and its trading company at the end of 2018 with 750,000 customers and Repsol Luz y Gas already exceeds 1.6 million.

As La Información has learned, the company has gone one step further and this month has signed an alliance with Fnac to offer its electricity and gas rates in ten stores. All customers who contract at one of these centers will also get discounts on refueling and credit on their Waylet mobile application.

Specifically, Repsol currently has 1.1 million electricity customers in the free market and 190,000 in the regulated market, as well as another 310,000 in the free gas market. The company is not authorized to offer the Last Resort Tariff (TUR) for gas. The four companies that by law can offer it -through their respective regulated marketers- are Naturgy, Iberdrola, Endesa and Total Energies.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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