JP Morgan has acquired a 10.585% stake in Indra’s capital, which makes the US financial institution the company’s second largest shareholder, just ahead of Escribano, the Spanish technology and defense group that last week raised their weight in the firm up to 8%, according to the records of the National Securities Markets Commission (CNMV).
The bulk of JP Morgan’s operations respond to financial instruments (10.572%) and only 0.013% to direct participation in the company. In this context, 10.585% of Indra is equivalent to 267.39 million euros at the current market price, with the company’s shares at 14.3 euros at the close of trading this Wednesday.
In this way, JP Morgan is only behind the Spanish State, which has a 25.159% stake through the State Industrial Participations Company (SEPI) – dependent on the Ministry of Finance – in Indra’s capital. Thus, the bank manages to surpass the Spanish company Escribano, which on November 24 increased its stake from 3.4% to 8% in the technology firm. However, it is unknown at the moment whether the participation of the financial entity has been carried out on its own account or on behalf of third parties, as a way of smoothing the entry of an investor into Indra’s capital.
Escribano, who has the option of requesting a position on the board of directors of the company chaired by Marc Murtra, defined the movement as a “strategic investment” to increase its position in the defense sector, promote the development of new technologies and capabilities and the creation of “skilled employment” throughout the country. Both movements have also occurred amid rumors that once again point to the possibility of Indra splitting off its technology subsidiary, Minsait, valued at around 2,000 million euros, according to different market estimates.
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