Swiss bank UBS said on Thursday it acquired 11.8 million shares, or 1.3 percent of Spanish utility Gas Natural, which it is placing with institutional investors.

UBS said it will announce the result of the accelerated bookbuilding share sale when the price is fixed.

Shares were suspended earlier having closed on Wednesday at 15.10 euros/share.

(Reporting by Jonathan Gleave; Editing by Elisabeth O'Leary)