Thai Parent of NH Hotels Offers to Purchase Shares

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BANGKOK (NNT) - Spanish stock market regulator CNMV has suspended the trading of shares in NH Hotel Group SA pending information from the company, just as its Thailand-based parent company offered to buy NH stocks in the market.

 

According to Reuters, the regulator said the suspension was a "precautionary measure" taken "while relevant information on the aforementioned entity is disseminated".

 

Minor International, based in Bangkok, which already owns a 94% stake in NH, said in a separate statement issued after the CNMV’s announcement that it would buy outstanding shares on the Madrid stock exchange for a 30-day period at a price no higher than 4.50 euros per share.

 

Earlier on Monday (8 May), NH published its first-quarter results but did not mention Minor’s offer. The group’s net recurring loss halved to 40 million euros from a year ago as it expected demand to remain strong in coming months.

 

Full Story: https://thainews.prd.go.th/en/news/detail/TCATG230510143623382

 

-- © Copyright NNT 2023-05-10

 

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