Banca Civica is selling shares worth €700 million in an initial public offering, The Wall Street Journal reports. The Spanish banking and financial service provider has set the price of its offering at €2.7 per unit.
The company has received offers of over €1.1 billion, with the institutional tranche 1.3 times subscribed and the retail tranche 2.3 times subscribed, adds Reuters. The shares will begin trading on Spain’s stock exchange from July 21, 2011.
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