Naturgy has announced the accelerated placement of approximately 3.5% of its share capital, significantly increasing free float and the liquidity of its shares, in line with the commitments made in the 2025-27 Strategic Plan. After this new transaction, which follows the one carried out by the company last August, Naturgy’s treasury stock is reduced to 0.94%.
The transaction consisted of an accelerated bookbuilding offering of approximately 34.1 million treasury shares aimed exclusively at qualified investors.
The execution price of the sale was 25.9 euros per share, which is equivalent to the price at which the recent partial buyback of its own shares at 26.5 euros per share was carried out, discounting the first interim dividend for the year 2025 of 0.60 euros per share, paid by Naturgy on 30 July 2025. As is customary in this type of transaction, the company has undertaken a 60-day lock-up commitment on the remaining treasury shares.
Following this transaction and those carried out last August, the company’s free float will stand at approximately 18.7% of its share capital, a threshold with which Naturgy hopes to rejoin the main international stock market indexes, especially those of the MSCI family, in the next review scheduled for November.
The company, which set a return to these indexes as one of the main objectives of its current Strategic Plan, has focused on achieving this commitment quickly and preserving the value of its shares. In that regard, in the first half of the year, Naturgy successfully executed a partial buyback in which its main shareholders participated, through which it acquired 9.1% of the company’s share capital. Subsequently, in August, Naturgy carried out an accelerated placement of 2% of its shares and a bilateral sale of 3.5% of its share capital to a global financial institution, for an aggregate total of 5.5% of its share capital. In addition to the August transactions, there is now a further 3.5% market sale to institutional investors. Thus, two months after completing the share repurchase, Naturgy has managed to substantially increase its free float and stock market liquidity, as set out in its Strategic Plan, well before its completion.
This operation reflects Naturgy’s determination to meet its commitments to the market and to its shareholders, present and future, while strengthening the visibility and liquidity of its shares. Backed by strong first half results, the company’s shares are now trading well above the levels they were at in February 2024, when they were delisted from the MSCI indexes.