Thai parent of NH Hotels offers to purchase shares

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

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. (NNT)