Ence starts trading on the Ibex 35 to replace DIA

Ence starts trading on the Ibex 35 to replace DIA


MADRIDUpdated:

The paper pulp manufacturer Ence has started trading since Monday on the main indicator of the Spanish stock market, the Ibex 35, replacing the supermarket chain DIA. On December 10, the advisory committee of the Ibex 35 decided to remove DIA from the indicator, and to occupy its place chose Ence.

For Ence to debut on the IBEX 35 will allow the company to offer greater attractiveness to its investors thanks to the foreseeable increase in its trading volume. The pulp mill expects the pulp business to increase its gross operating profit (EBITDA) to 400 million euros and that of energy to 150 million in 2023.

In addition, the company, which will allocate 50% of the net profit to dividends, expects to close 2018 with a net result of 130 million, an amount that will increase during the years of validity of the strategic plan to reach 270 million euros in 2023.

According to the market closing data of December 21, the market capitalization of Ence exceeds 1,270 million euros.

Your shares are quoted at more than 5 euros.

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