The Villar Mir Group (GVM) fixes its ground in Ferroglobe. The investment holding company founded by businessman Juan Miguel Villar Mir, who died on July 6, has reported a new historical low in the company specialized in ferroalloys. However, the group which continues to be the largest shareholder despite going on to hold 35.9% of the capital from 40.1%intends to increase its participation in the company during the coming months.
The voices consulted emphasize that the last sales of securities occurred in spring and now the objective is to take advantage of the window opened by the share buyback program activated by the company listed on the Nasdaq. Buying on the market is even being considered, as long as the group’s financial situation allows it.. We must not lose sight of the fact that GVM has recently refinanced the bulk of its debt with the Monegasque fund Tyrus and has removed LetterOne from its pool of creditors.
According to the latest information reported to the US stock market regulator (SEC), GVM has 67.51 million securities. Ferroglobe currently capitalizes just over 800 million dollars and has accumulated a decline of 19.21% so far this year on the US stock market, where it has been listed since 2015.. Its participation is valued at just over 300 million.
With 35.9% of the capital of the company, a giant in the production of metal, silicon and manganese ferroalloys, GVM remains the main owner. The other two notable shareholders are Cooper Creek Partners Management (6.9%) and Wolf Hill Capital Management (5.5%).
All-time low
The new percentage of participation updated before the SEC is the lowest held by the holding company since the company began trading in 2015. Last year, it reduced its position by more than 8% after several movements and went from having a 48.7%, to 40.1%. At its IPO it held 57%.
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