April 14, 2021

JP Morgan takes advantage of the stock market crash and becomes Repsol’s second shareholder


Madrid

Updated:

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US investment bank JP Morgan It has taken advantage of the fall of the Stock Market and, specifically, of Repsol, to increase its participation in this oil company to 6.855% of capital, as reported today to the National Securities Market Commission (CNMV). Thus, it becomes the second shareholder of the oil company.

The company’s market capitalization has fallen 57% since the year began due to the drop in demand for hydrocarbons due to the coronavirus and the oil war between Saudi Arabia and Russia.

JP Morgan started with a 2,124% stake and has taken the new percentage through financial derivatives.

The first shareholder is still Sacyr, with 8.2%. The third is Blackrock, with 4.99%, followed by the Norwegian sovereign wealth fund Norges Bank, with 3,117%.

Repsol shares today fell slightly, 0.11%, to 6.03 euros.

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