Civica extends from strength, Bankia won’t show weakness
Bankia Civica on Wednesday tweaked its IPO schedule to give it breathing space to price the deal after the release of European Banking Authority stress tests while larger rival Bankia held course with the idea said not to have even been discussed. Both updated investors on demand for their retail tranches.
Civicas retail tranche for 50% of the Eu600m-Eu843m deal size is covered from 2.05 times at the top of its range to 2.8 times at the bottom.
It extended the institutional bookbuilding period to Tuesday to allow one full trading day after the EBA stress test results
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