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m22au
Registered: Mar 2002
Posts: 3138 |
07-09-11 11:19 PM
While I realise that the big Spanish banks may be stronger than the cajas (eg Bankia), it is worthwhile to keep one's eyes on the performance of listed Spanish banks. They may provide shorting opportunities, especially if capital raisings are required.
The results of the Eurogroup's stress tests should be published on Friday 15 July.
http://europa.eu/press_room/index_en.htm
SAN, BBVA, POP, SAB, BKT, BTO, PAS
Quotes:
http://finance.yahoo.com/q/cq?d=v1&...c,bto.mc,pas.mc
Charts:
http://finance.yahoo.com/q/bc?s=san...c,bto.mc,pas.mc
USA symbols:
STD and BBVA
Bloomberg link for Santander:
http://www.bloomberg.com/apps/quote?ticker=SAN:SM
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m22au
Registered: Mar 2002
Posts: 3138 |
07-18-11 09:39 AM
"DEALWATCH: Bankia IPO Pressured By Stress Tests, Market Worries"
http://online.wsj.com/article/BT-CO...712-703401.html
Bankia is offering up to 907 million shares at a price of between EUR4.41 and EUR5.05 each, to raise between EUR4 billion and EUR4.5 billion. It plans to sell 60% of the stock to retail investors in Spain, and the rest to Spanish and foreign institutional investors.
The offer price represents a roughly 50% discount to its book value. Bankia is raising the capital in an effort to boost its Tier 1 capital ratio to around 10.1%, from 7.63% now.
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m22au
Registered: Mar 2002
Posts: 3138 |
07-18-11 12:52 PM
"Bankia Cuts IPO Price by 26% to Woo Investors"
http://www.bloomberg.com/news/2011-...ebt-crisis.html
The bank is now offering shares at 3.75 euros each, seeking to raise 3.1 billion euros ($4.4 billion), according to a term sheet obtained by Bloomberg News. Bankia originally planned to sell shares at 4.41 euros to 5.05 euros apiece. Managers for the IPO have orders for all shares on sale at the reduced price, excluding the overallotment option, according to the term sheet.
Civica Offering
Civica, formed from the combination of another four Spanish savings banks, is seeking to raise as much as 844 million euros in an IPO. The lender, also in Madrid, is priced at 0.4 times to 0.52 times its estimated book value, according to two people directly involved in the transaction. The bank decided to delay the pricing date by one day to July 19 to see the result of Bankias IPO, said one of the people, who declined to be named because the process is private.
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