Success for Unicaja as float fetches €688m

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By John Loh
29 Jun 2017

Spanish lender Unicaja Banco got its €687.5m IPO over the line on Thursday, helped by a strong showing from US funds and rising confidence in European financials.

The country’s eighth largest lender by assets sold 625m primary shares at the low end of its €1.10 to €1.40 a share marketing range, which values Unicaja at 0.48 times book for 2017.

The issuer floated a 40% stake via Morgan Stanley and UBS as global coordinators, with ...

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