Enrique Banuelos, head of Astroc, invested some EUR 72.8 mln in Astroc shares over the last 15 days raising his stake in the company from 51.84% to 53.77%. According to Spain's stock market agency CNMV, Banuolos acquired about 2.3 million shares or 2% of the company following a correction of the company's shares last month.
Enrique Banuelos, head of Astroc, invested some EUR 72.8 mln in Astroc shares over the last 15 days raising his stake in the company from 51.84% to 53.77%. According to Spain's stock market agency CNMV, Banuolos acquired about 2.3 million shares or 2% of the company following a correction of the company's shares last month.
Sources close to Astroc said that Banuelos wanted to show confidence in Astroc at a moment that its tumbling share price was seen to be dragging down other Spanish real estate companies.
On 19 April, Astroc Mediterraneo's share price fell 43%, wiping EUR 2.3 bn off its market value, in the wake of disappointment with the company's figures for 2006. A week later, Astroc's shares plummeted another 37% to EUR 15.95. Its shares were trading at EUR 15.56 on Tuesday at 4 pm.