Spain's Bankia will be sold with 45% OFF
Reuters reports that the pricing for the IPO of Bankia will be at only 55% of Book Value, read here.
The "European Debt Debacle," as Bloomberg TV headlined its reports on the latest EU mess this morning, still continues apace!
UPDATE 1615 GMT: Reuters are now reporting the Prospectus issue has been delayed to next week, but contrary to my report of last evening, that the discount against book value would be 40% - 50%, and that reported above at 55% the range is expected to be between 35% and 55%. Time will tell, or perhaps the whole thing may well be called off - what will that tell us about the state of Spain's Cajas and therefore the Euro?
The "European Debt Debacle," as Bloomberg TV headlined its reports on the latest EU mess this morning, still continues apace!
UPDATE 1615 GMT: Reuters are now reporting the Prospectus issue has been delayed to next week, but contrary to my report of last evening, that the discount against book value would be 40% - 50%, and that reported above at 55% the range is expected to be between 35% and 55%. Time will tell, or perhaps the whole thing may well be called off - what will that tell us about the state of Spain's Cajas and therefore the Euro?
Labels: Now Spain
posted by Martin at 1:45 PM
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