| 07/19/99 | ||||||||||
| Global Co-ordinators for the Offering exercised the over-subscription option granted by Repsol, S.A.
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| REPSOL CONCLUDES ITS CAPITAL INCREASE REACHING AN AMOUNT OF APPROXIMATELY ONE TRILLION PESETAS
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The Global Co-ordinators (BBV Interactivos
SVB, Goldman Sachs International, Invercaixa Valores, Merril Lynch International
and Salomon Smith Barney International), in their own name and in representation
of the Underwriters for the institutional tranches, have today exercised the
over-subscription option offered by Repsol, S.A. This option was exercised at one time on
the 48 million shares of Repsol, S.A. offered. The price per share was 19.95
euros, arriving at an overall sum of 957,600,000 euros. The over-allotment option to subscribe the
aforementioned 48 million shares together with the public issue of 240 million
shares was approved by the Extraordinary General Shareholders Meeting of Repsol,
S.A., held on June 5th last. By virtue of the foregoing, the capital
increase of 288 million shares has provided Repsol with funds amounting to
942,648 million pesetas (5,655 million euros). The final share allotment was as
follows: General retail
sub-tranche 95 million
shares Retail sub-tranche for
employees 12 million
shares Spanish institutional
tranche 97 million
shares International institutional
tranche 84 million
shares TOTAL 288 million
shares Share price � good market
performance Last Friday, Repsol shares closed at a
price of 20,41 euros, showing a rise of 5,4% over the general retail price, and
2,3% over the institutional price. |