Spain sells €818m stake Bankia stake to ‘huge’ foreign demand

By Sam Kerr
12 Dec 2017

Spain’s government resolution fund, FROB, sold a 7% stake in Bankia in an accelerated bookbuild on Monday night, run by Deutsche Bank, Morgan Stanley and UBS.

FROB sold the stake through BFA Tenedora de Acciones, the holding company through which it owns its stake in Bankia.

The shares were sold at €4.06 a share, a 2.6% discount to the closing price of €4.17 on Monday, December 11. The shares were trading at €4.12 at ...

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