Repsol marks 25th anniversary on stock market
- Business & Finance
Repsol has celebrated the 25th anniversary of its flotation on the stock market in a ceremony held at the Madrid Stock Exchange. During the event, Repsol Chairman Antonio Brufau rang the bell symbolically to celebrate Repsol’s entrance into the stock markets on May 11, 1989.
Repsol began trading simultaneously on the Spanish continuous market and the New York Stock Exchange (NYSE) and at that time more than 380,000 minority shareholders and international institutional investors decided to form part of the company. Repsol currently has around 500,000 small investors that represent approximately 12% of its capital.
Repsol is widely covered by both national and international analysts who follow companies in the sector. There are currently 37 analyst firms following Repsol and 95% recommend buying or holding the company’s stock.
Over the past 25 years Repsol’s has paid 16.019 billion euros in dividends, while the company’s market capitalization has increased 8.5 times to 26.338 billion euros.
During the event, Antonio Brufau, who was accompanied by the Chairman of the Spanish Stock Exchange, Antonio J. Zoido, thanked the shareholders and all those who have subsequently joined the Repsol project for their continued support since 1989, and he encouraged those who are not yet shareholders to invest in the company given its prospects for growth and profitability.
Repsol’s chairman affirmed that the company maintains its commitment “to continue working with drive, talent and enthusiasm to accomplish our goals: realise our business objectives as a company, and offer society all that it expects from us.”
Brufau also highlighted the company’s history during the last 25 years, which has consolidated its upstream business as the growth engine and has positioned its refining model as one of the best and most efficient in Europe. Also, it has emphasised Repsol’s commitment to technological innovation, responsibility and job creation.
Since its flotation on the stock exchange, Repsol has gone from being a domestic refining company to become an international leader in the energy sector with presence in more than 35 countries that has made 5 of the largest discoveries in the world and has one the highest reserves replacement ratios in the industry.
Press Release, May 12, 2014