Reuters: Global Markets: Spain's Bankia shares fall 22 percent as big dilution looms

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Spain's Bankia shares fall 22 percent as big dilution looms Feb 14th 2013, 11:08 Tweet Share this Email Print Related Topics Hot Stocks » Asian Markets » The headquarters of Spain's Bankia bank is seen behind a red traffic light in Madrid November 28, 2012. Credit: Reuters/Andrea Comas MADRID | Thu Feb 14, 2013 6:08am EST MADRID (Reuters) - Shares in Spain's Bankia (BKIA.MC) opened down 22.65 percent after a suspension on trading in the stock was lifted on Thursday. The stock was trading at 0.40 euros ($0.54) at 6:01 eT after recovering slightly. The shares closed on Wednesday at 0.47 euros. Trading in the stock was suspended just before 3 a.m. ET on Thursday, after a newspaper report said that the nationalized lender's shares would be valued at 0.01 euros each in a recapitalization. Spain's bank restructuring fund FROB, which controls Bankia, dismissed the report, saying it had not yet decided on a valuation. It added however that existing shareholders would likely be heavily diluted in the recapitalization. Shareholders have been bracing for big losses since the bank had to apply for European rescue funds last year. (Reporting by Sarah White, Editing by Clare Kane) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions