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UBS places Bankia's stake in Mapfre for $3.6 per share
September 26, 2013 / 7:11 AM / 4 years ago

UBS places Bankia's stake in Mapfre for $3.6 per share

A dog walks past a bank bus during its monthly call on customers in the village of Corral de Ayllon, central Spain, June 4, 2013. REUTERS/Sergio Perez

MADRID (Reuters) - Broker UBS said on Thursday it had placed the 12 percent stake in Spanish insurer Mapfre (MAP.MC) held by the country’s largest state-rescued lender Bankia (BKIA.MC) for 2.647 euros ($3.6) per share for a total of almost 1 billion euros.

The sale represents a discount of almost 3.8 percent from Mapfre’s closing share price of 2.753 euros per share.

UBS, handling the deal alongside Bankia Bolsa, said that a total of 369.61 million shares were offered in the placing.

Reporting By Jose Elias Rodriguez, Writing by Paul Day; Editing by Fiona Ortiz

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