Saturday, November 15, 2014

Mota-Engil Africa will be listed on the Amsterdam stock exchange on 24 … – Digital Portugal

Mota-Engil Africa will be listed on the Amsterdam stock exchange on 24 … – Digital Portugal

A company of Portuguese construction group facing African markets will have their shares traded on Euronext Amsterdam later this month.

Lisbon – Portuguese construction company Mota-Engil will initiate the exchange listing of its African division still this month. In a statement to the market, the group said Mota-Engil Africa should be admitted to trading on the stock exchange in Amsterdam, Netherlands, on 24 November.

The Euronext Amsterdam has informed the Mota-Engil have taken “a favorable decision” that the actions of Mota-Engil Africa are listed in that financial center. Remember that this year the Portuguese group reached predict quoting Mota-Engil Africa in London, but the July 11 the process was suspended due to “deteriorating market conditions.”

In this placement purse of Mota-Engil Africa there will be selling new shares in the company, but existing shareholders of the Portuguese construction company will receive 20% of the shares of the subsidiary that develops business in the African market.

In the first half of this year The Portuguese group achieved a turnover of EUR 557 million in Africa, 28.6% more than last year. The global sales of Mota-Engil until June was € 1.12 billion, an increase of 7.9% compared to 2013.

The Mota-Engil still active in Europe and Latin America, which includes the Brazilian market, but with a lower weight than the operations on the African continent.

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