After the suspension, Benfica shares soar over 4%
The club's securities increased by 4.17% to €3.00 per share, in a session with greater intensity than usually happens: almost 20,000 shares were exchanged in this Monday's session.
The trading in Benfica SAD shares was suspended for about two hours in the morning. The markets regulator (CMVM) has since lifted the suspension and the club’s securities closed this Monday’s session at €3.00 per share, representing a 4.17% increase.
The securities reached €3.00 per share, in a session with greater intensity than usually happens: almost 20,000 shares were exchanged in today’s session, six times more than the daily average of 3,200 shares of the last three months.
However, the suspension was lifted after CMVM clarified to the market that the shareholder José António dos Santos may already have more than 20% of Benfica SAD shares and that he has an agreement to sell his stake to the American investor John Textor – later confirmed by himself. It was 9h47 a.m. when the shares started trading again.
It was an atypical session for the Portuguese club. In the morning, the “The Board of Directors of the Securities Market Commission (CMVM) decided to suspend the trading of shares Sport Lisboa e Benfica – Futebol SAD, for the incorporation of information,” revealed the regulator.
The decision to suspend the trading was because in recent days, there were “indications of various irregularities that could affect Sport Lisboa e Benfica, impact its corporate governance and create opacity about the composition of its shareholder structure,” referring to the “Red Card” operation.
