MADRID (Reuters) – The Spanish stock market regulator suspended on Tuesday the trading of shares of renewable energy company Abengoa
The regulator said it suspended the shares because of “special circumstances happening” in a filing without giving any details.
The very volatile shares of beleaguered Abengoa were up 56% on the day just before the suspension, but were still trading more than 99% below their 2015 price.
“There is optimism and the feeling is good, but it’s not clear an agreement will be reached today,” said a banker whose lender is one of the company’s creditors.
Spanish newspaper Expansion said the company’s management was close to reaching an agreement on its debt restructuring.
A spokeswoman for Abengoa said the company would not comment “until something official is published.”
Seville-based Abengoa had avoided becoming Spain’s largest-ever corporate bankruptcy in 2016 after its management struck a refinancing deal on debt worth 9 billion euros ($10.24 billion), which handed creditors control of the company.
(Reporting by Inti Landauro, Jesus Aguado, Tomas Cobos; Editing by Ingrid Melander)
