Oppidum invests €70M in EDP shares

Portuguese electricity giant EDP’s second largest shareholder, Spain’s Oppidum Capital has invested around €70 million in the power producer’s latest capital call.

Oppidum Capital now holds 7.19% of the national electricity company according to Jornal Económico which says that with this increase in shares it has managed to keep its position intact in the Portuguese company’s capital.
The Spanish shareholder therefore invested €78.8 million in EDP’s capital in a total of 22.3 million shares.
Oppidum Capital SL is based in Oviedo, Spain and is part of the Management of Companies & Enterprises Industry. Oppidum has employees across all of its locations. There are 70 companies in the Oppidum corporate family.
EDP’s capital call, equivalent to 8.45% of the company’s capital, ends this month. Each share was launched at €6 per share with a discount of 3.30% compared to the closing price of trading shares on 23 July.
In the multibillion capital call operation required to finance the purchase of Spanish energy company Viesgo, EDP shareholders had to invest if they did not want to see their shareholding position in the company diluted.
China Three Gorges will have to invest almost €219 million in the capital call to maintain its 21.47% stake in the Portuguese energy supplier unchanged.
EDP’s sole Portuguese shareholder in the capital call is Banco BCP which will have to fork out €21.1 million to keep its 2.07% position unchanged.
Another major shareholder is the US investment fund Blackrock which will have to invest €46 million to guarantee their 4.51% share.
Alliance Bernstein will also have to fork out €30 million to retain its 2.94% while Sonatrach’s Algerians will have to pay €24.2 million to keep its 2.38%.
Other shareholding investors that will have to engage in the capital call include the Qatar Investment Authority which will have to spend €23.1 million to ensure its 2.27%, Norges Bank will have to pay €22.6 million to safeguard its 2.22%, and Capital Group Companies which will have to invest €20.9 million to keep its 2.05% unchanged.
In addition, the suspended EDP CEO António Mexia had a €25,000 stake in the capital call by buying more than 7,700 shares.