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Provider: Reuters Investment Profile
Provider: Thomson Reuters StreetEvents
Provider: Thomson Reuters StreetEvents
Provider: Directors Deals Ltd.

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Spain's BFA To Spend EUR 275 Million On New Bankia SA’s Shares-Reuters

Saturday, 27 Apr 2013 08:29am EDT 

Reuters reported that Spanish state-owned banking group BFA has pledged to spend up to EUR 275 million (USD 358 million) on buying new shares to be issued by subsidiary lender Bankia SA in May 2013. Bankia SA is issuing 11 billion new shares as part of a recapitalisation plan. The new shares are due to begin trading on May 28, 2013 at EUR 1.35 each. Once a capital hike from EU funds is completed in the coming weeks BFA will have about 69% of Bankia SA. 

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