June 27, 2013 / 7:12 AM / 4 years ago

Bankia sells 12.1 pct stake in IAG at 256p/share

MADRID, June 27 (Reuters) - Spanish bank Bankia has sold a stake of 12.1 percent in International Airlines Group at 256 pence/share (3.01 euros/share), bookrunners Bankia Bolsa and Merrill Lynch said on Thursday, a discount of 3 percent on Wednesday’s closing share price.

Shares were sold to institutional investors tor raise money for the nationalised bank, which is attempting to recover from the impact of a burst housing bubble. IAG owns British Airways and loss-making Spanish airline Iberia.

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