The merger was consummated last week after receiving all the compliments from the missing supervisory authorities, such as the CNMC. The Ministry of Economy also gave its approval to the operation, which had already received the approval of the Bank of Spain and the ECB. Today, Bankia shareholders no longer have shares in this entity: each of them has been exchanged for 0.6845 CaixaBank shares, thanks to a capital increase of 2,079.2 million shares.
Bankia investors have 0.6845 titles in their accounts for each share they controlled
Bankia had 162,870 shareholders at the end of 2020 at the end of last year, compared to CaixaBank’s 564,723, so that, according to these figures, the number of partners in the new entity is around 727,000. With the capital increase, which has been remotely controlled to Bankia shareholders – it was not a market operation – the capitalization of the entity chaired by Ignacio Goirigolzarri and piloted as CEO Gonzalo Gortázar is close to 21,000 million euros, despite that this Monday, the day of the premiere, it falls by around 1%.
Bankia will disappear as a commercial brand shortly, and it has already done so as a listed company. The new CaixaBank is listed by value on the Stock Market as the tenth most valuable company on the Ibex, slightly above Naturgy (20,228 million euros) and just below Telefónica (21,134 million). In the banking sector, it ranks third, below Santander (almost 50,000 million) and BBVA (more than 29,000 million).
Very far are Bankinter (with just over 5,000 million euros, a value that will also be reduced by 1,434 million euros once Línea Directa has delivered as a dividend, an operation scheduled for the end of April) and Banco Sabadell (about 2,500 million).
As for the ranking by number of investors, it is also the third. The bank chaired by Ana Botín totaled 4,019 million as of December 2020, while the one chaired by Carlos Torres Vila had 874,148 shareholders.