Naturgy drops after BlackRock offloads 7% stake

Shares in Naturgy NTGY.MC drop around 5% after BlackRock sold a 7.1% stake in the Spanish gas utility company at a discount via accelerated bookbuilding

BlackRock sold nearly 69 million shares in Naturgy at a price of 24.75 euros per share

This represents a 5.4% discount to the stock's closing price of 26.16 euros on Wednesday

After the sale, BlackRock will be the company's fourth-largest shareholder with a 11.42% stake in Naturgy

Naturgy is on track for its biggest daily loss since August 2025, when it closed 7.2% lower