MADRID/BANGKOK : 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 '
MADRID/BANGKOK : 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 per cent 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 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 per cent to 3.625 euros on Friday.
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