Largest airport operator: Spain to list 28% of AENA

MADRID: The Spanish government said it would float a section of the world’s largest airport operator Aena as part of a much-delayed privatisation of the firm, Europe’s first major stock market listing of the year. The government will list 28% of the operator on the stock market and has agreed to sell another 21% to three private-sector anchor investors. It will retain a narrow majority of 51% in the company, which runs 46 airports and two heliports in Spain and another 15 in Latin America, the US and Europe, including London’s Luton. Aena is the world’s largest airport operator by passenger numbers, with nearly 195.9 million traveller arrivals or departures last year, a 4.5% increase over 2013. It was hit hard by Spain’s economic downturn and underwent a massive overhaul which included firing 20% of its workers and a rise in airport taxes. The price range for next month’s listing was set at 43 to 55 euros per share, valuing the company at between 6.45 and 8.25 billion euros.

Published in The Express Tribune, January 25^th, 2015.

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