Spain sizzles on caja IPOs, stake sell-downs

Banco Financiero y de Ahorros (BFA), the Spanish savings bank SIP that includes Caja Madrid, Bancaja and five others, is planning an IPO in 2011, the group’s chairman said on Monday. The move follows reports and announcements from Caixa Barcelona, Banco Base and Banca Civica that they too plan stock market listings.