Portugal sells 31.5pc stake in CTT at small discount

LISBON: Portugal's state holding company Parpublica sold a 31.5 percent stake in postal firm CTT in the second and last stage of its privatisation at 7.25 euros (9.38 US dollar) a share in a private offering on Friday, raising 343 million euros.

CTT shares have gained 38 percent since the start of the year following the first stage of privatisation in December and closed at 7.81 euros a share on Thursday, meaning the shares in the offering were sold at a 7 percent discount.