Portuguese state stake-holding company Participacoes Publicas (Parpublica) has sold a 4.14 per cent stake in Energias de Portugal SA (Euronext Lisbon: EDP) in order to meet the terms of a €78 billion bailout from the European Union and International Monetary Fund. Portugal has also sold holdings in power-grid operator REN-Redes Energeticas Nacionais SA and airport operator ANA-Aeroportos de Portugal SA.
IC TIP:
Buy
at
2.35€
Portugal sold 151.5m shares at €2.35 per share to institutional investors, raising an estimated €356m (£307m), Parpublica said in a statement. Shares in EDP dropped 2.9 per cent to €2.35 following the announcement, slipping from near 12 months highs at €2.42.
