Demand for Repsol shares has surpassed all expectations in the first week of the offering, which opened on Tuesday, March 21st last. To date, provisional data supplied by the banks indicates that, in Spain alone, over 120,000 investors have made buying orders on Repsol shares for over 100 billion pesetas. INH has offered 40.5 million shares for sale, which is 13.5% of Repsol capital equity.

The first phase of the share offering opened on Tuesday, March 21st last, and retail investors may place buying orders until next Saturday, April 1st, which marks the end of the first period. As in the case of those made last week, these purchase orders will have preference in the pro-rata.

The maximum share price will be announced on April 2nd and the second phase of the offering will begin on Monday, April 3rd. Retail investors will be able to place firm buying orders until Friday, April 7th, but these will not have priority in the pro-rata.

The buying price for this offering will be set on Monday, April 10th, upon closure of the Continuous Market.