Bankia`s privatisation

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Spain regains €136 million with first steps of Bankia’s privatisation

MADRID | The Corner Team | Bankia’ listing in Madrid Stock Exchange was cancelled up to 10 A.M on Friday. One hour later it was known that Spain sold 7.5% of the entity’s capital announced on Thursday at a value of 1.51 euros per share, which amounts a total of €1.3bn and also a discount of 4.4% against yesterday’s closing prices. Furthermore, the sale allows Spain to earn €136 million. With figures aligning with analysts’ estimations, the start of Bankia’s privatisation proves external confidence in Spanish financial sector recovery.