Books Covered on Spains's Aena Share Sale

Books are covered for the stock market listing of Spanish airport group Aena, two sources close to the deal said on Monday, after strong demand for the shares in the first day of "roadshow" meetings with investors.

 

Spain is selling a 49 percent stake in Aena in the biggest privatisation since 1997, in a flotation that values the whole of the firm at up to 8.25 billion euros ($9.30 billion). The books were covered in 20 minutes, the two sources said.

 

As part of the placement, 28 percent of the stake being sold is for new shareholders, including retail buyers, and 21 percent has been earmarked for three cornerstone investors. One of the sources added that if the strong demand persisted, there was a chance the whole share placement could be sold to investors in the bookbuilding phase.

 

"There's a chance it could be a 49 percent IPO (initial public offering) if the momentum continues," the source said.


($1 = 0.8868 euros)

(Reporting by Freya Berry and Andres Gonzalez, Writing by Sarah White, Editing by Carmel Crimmins and Sarah Morris)