They will increase their ratios of solvency with this step. Both exceeded the banking stress test. They will come to the park with a day of difference. Bankia already has secured more than 3 billion euros and Banca Civica 400. Most solvents Spanish financial institutions. Bankia and Banca Civica debut on stock exchange this week, at a time of turmoil in the markets by uncertainty about the debt situation in some countries in the eurozone, including Spain.
Outputs a bag, that will occur with a day’s difference, will be a litmus test for Spanish banks, which are in the sights of investors after the publication of the results of European banking solvency tests. Both Bankia and Banca Civica passed these tests, which revealed that they had not needed to go public to approve them thanks to your mattress of provisions. In any case, the review showed that both entities will increase their solvency ratios with his jump to the Park. Bankia, fruit of the Union of Caja Madrid, Bancaja, La Caja de Canarias, Caixa Laietana and avila, Segovia and Rioja, boxes can capture up to 4.5 billion euros, although it placed a lower amount to avoid having to become more cheaper bid. On Monday, the organization headed by Rodrigo Rato will select proposals for subscription received from institutional investors to set the final price of the IPO, that the Group has secured already more than 3 billion euros, according to sources close to the process. Thus, on Tuesday July 19 already can be assigned shares to institutional investors and the rest: retailers, mostly individuals and employees. Finally, Wednesday 20 begin to negotiate the new titles of the entity. Bankia plans place their titles at a unitary price of between 4.4 euros and 5.05 euros, allowing you to have a market capitalisation of 7.641-8.749 million euros.
Civic banking will arrive a day later for his part, banking Civic decided the week previous to postpone a day his departure to bag, so it still has not set its stock price, and shall not award their titles until 20. The actions will quote from July 21. A spokesman for the Authority explained is postponed the debut stock from Wednesday to Thursday so that investors could have one more day to evaluate the results of the group in tests of solvency to the European banking. Banca Civica, which aims to put 945 million, has secured more than 400 million in its stretch retailer, which has received requests for more than 860 million euros. The unknown is how leave requests for institutional investors. The value of securities of the entity, created by Caja Navarra, CajCanarias, Cajasol and Caja Burgos, will oscillate between 2.7 and 3.8 euros, according to the price band established in the IPO Prospectus. Source of the news: Bankia and Banca Civica are premiered in the bag after overcoming the European solvency test
