Unicaja has announced it has received sufficient demand to cover its stock market listing, due on June 30, and expects to raise 875 million euros. The offers presented are not binding as no definite price has yet been obtained.
Unicaja IPO plans
The savings banks which were bailed out by the FROB continue to present problems for that institution and the government. The idea was that after they were restructured and their value had increased, they would find a buyer or incorporate a partner with a controlling stake or seek a stock market listing. So then they would give back at least a good part of the state aid received from the FROB. But these plans are turning out to be difficult to implement.