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Bankinter, S.A. (BKT.MC)

MCE - MCE Delayed price. Currency in EUR
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5.08-0.05 (-0.90%)
At close: 04:03PM CET
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  • Reuters

    Bankinter to spin off, list insurer Linea Directa in late April

    Spanish bank Bankinter said on Tuesday it plans to spin off insurance unit Linea Directa and list its shares on the stock market through an initial public offering in late April. Bankinter, which has secured the European Central Bank's approval for the operation, expects Linea Directa to have a market value of 1.43 billion euros after the IPO, it said in a statement. Linea Directa's share price would start at 1.318 euros per share and Bankinter would retain a 17.4% stake after the IPO.