Bankia´s machinery is running and there isn´t anyone to stop it. Rodrigo Rato, who runs the firm and, intends to go public around July 13. Neither doubt around the second Greek bailout, nor elevated Spanish risk premiums, nor Santander´s debacle with the autonomous government debt placement are making him nervous.
According to financial and market sources, the firm has nearly taken care of all preparatory procedures for the IPO. It still has to files its IPO with the Comisión de Nacional de Mercado de Valores (CNMV).
Julio Segura presides over the organization. They traditionally address IPO filings on their Monday and Thursday meetings. The fact that next Thursday is a holiday in Madrid would push back the filing to June 21 or maybe even June 30.
In either case, as soon as the CNMV green lights the project, time will pass by quickly and Bankia?s shares will be valued and sold off by mid-July.
In recent days some speculated with the fact that Bankia could postpone its IPO until fall or beyond, battling the official deadline of March 2012. At the end, the deterioration suffered by the Spanish premium risk in the wake of the second Greek crisis has battered financial markets. However, according to market sources, the rise of the premium shall not prevent the entity postpone its premiere at the IBEX floor.
