Enagas Ord Share Price (0EBQ)

Spanish gas company Enagas saw shares sink on Tuesday after a shareholder sold its stake in the company at a discount to the closing price the day before. Investment company Sagane Inversiones, which is formed by several savings banks such as Caja Murciam and Caja Granada, announced that it had placed in the market its remaining 5% stake of Enagas. The sale was realised through an accelerated bookbuilding process managed by Banco Santander and Credit Suisse. The stake, which is made up of almost 12m shares, was placed in the market for €14.70 per share for a total of €175.46m. The price is a 4.56% discount off Monday's weighted average price. The market quickly priced in the operation and took the share price lower to meet the price of the transaction in early trading.