GC Asia
Bankia mandates for Eu2bn IPO
Bankia, the savings bank grouping led by Caja Madrid and Bancaja, mandated Bank of America Merrill Lynch, Deutsche Bank, JP Morgan and UBS to lead its planned IPO.
As the situation stands, it will need to raise a minimum Eu1.8bn in the deal to meet Bank of Spain’s 8% capital requirement for listed banks.
However, it has already gone further than most in cleaning up its Eu340bn balance sheet, taking a Eu9.2bn charge in 2010.
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