The Spanish government sold a 7.0% stake in Bankia SA for €818.3 million.
BFA Sociedad Tenedora de Acciones SAU, wholly owned by the government's Fondo de Reestructuración Ordenada Bancaria, sold 201,553,250 shares in Bankia at a price of €4.06 per share through an accelerated bookbuilding process among qualified investors.
The transaction reduces BFA's holding in Bankia to 1,745,745,307 shares, or a 60.63% stake, and has a positive impact of 75 basis points on BFA's fully loaded common equity Tier 1 ratio as of September on a consolidated basis.
BFA entered into a 60-day lockup period from undertaking any transmission of its remaining shares in Bankia following the sale.
Deutsche Bank AG's London branch, Morgan Stanley & Co. International Plc and UBS Ltd. served as placing agents in behalf of BFA.
