Banca Cívica will speak as smooth as William Shakespeare. The bank created from the merger of Cajasol, Navarra, Canarias and Burgos took advantage of its IPO to unveil that 30% of its investors are domiciled outside of Spain and, specifically, in two countries who constitute practically all foreign investment in the bank. According to sources familiar with the lender, the funds originating from those countries and some of the largest banks with headquarters in London are found on the list of institutional investors with foreign residencies.
According to the same sources, Black Rock, JP Morgan, Cerberus, Paulson and Barclays are on the list. 20% of the shares are held by American firms, and another 10% by the British.
Still, Asian and Arab investors were left out, and the firm acknowledged that bank assessors had recommended to not lobby for investors with this profile.
While management held a meeting with a representative from the Industrial Commercial Bank of China (ICBC), Liu Gang, they did not reach any agreements.
