Spain suspends trading in NH Hoteles, Thai parent offers to buy shares

Spain suspends trading in NH Hoteles, Thai parent offers to buy shares

Spanish stock market regulator CNMV on Monday 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.

The regulator said the suspension was a "precautionary measure" taken "while relevant information on the aforementioned entity is disseminated".

Minor International, which already owns a 94% stake in NH, said in a separate statement issued after the CNMV's announcement it would buy outstanding shares on the Madrid stock exchange for a 30-day period at a price no higher than 4.50 euros ($4.97) per share.

Earlier on Monday, 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.

The company did not immediately respond to a request for comment. Its shares rose about 1% to 3.625 euros on Friday. 

Do you like the content of this article?

Taiwan, US to sign trade deal

TAIPEI: The United States and Taiwan will sign a trade deal on Thursday, Taipei said, in a move likely to stoke tensions between Beijing and Washington over the island.


Road accident claims 4 lives, injures 6 migrants in Ayutthaya

AYUTTHAYA: Four people were burnt to death in a Bangkok-bound SUV that overturned while carrying migrant workers past Bang Pa-in district at 12.20am on Thursday.


Asia's factories signal more pain as China recovery falters

SINGAPORE: Asia’s factories saw further easing in demand in May as China's faltering recovery weighed on a region already smarting from a global trade downturn.