UPDATE 3-OHL's main shareholder poised to sell down stake before share issue

miércoles 7 de octubre de 2015 14:01 GYT

* OHL to raise 1 bln euros in share issue

* Shares offered at 62 pct discount to Tuesday's close

* Top shareholder poised to sell 9.54 pct stake before issue (Recasts with details from prospectus)

By Carlos Ruano and Paul Day

MADRID, Oct 7 (Reuters) - Spanish builder and toll-road operator OHL on Wednesday said its main shareholder would likely sell down its stake ahead of a planned 1 billion euro ($1.12 billion) share issue that will be carried out at a highly-discounted price.

The company, whose debt has mounted after an economic crisis at home, said it would issue shares at 5.02 euros each, a 62 percent discount from their closing price on Tuesday. The price was lower than analysts were expecting.

The chairman of the group, octogenarian billionaire industrialist Juan Miguel Villar Mir, had said in September that new shares would be issued at around or slightly below their then market price of 12 euros per share.

In the share prospectus published on Thursday, OHL said its main shareholder, Inmobiliaria Espacio -- the holding company used by Villar Mir -- was "considering" a 9.54 percent sale of OHL shares before the issue.

But in the Spanish version of the prospectus OHL said it had "requested" banks to organise the sale.   Continuación...