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With trading set to begin within weeks, there is still surprisingly little known about Bankia's pending IPO.
Clarity had been expected to come in the form of a prospectus to be released June 20 or June 21, but that has now been delayed.
The Spanish market regulator confirmed to SNL Financial on June 22 that it has not yet received the IPO prospectus, despite the group planning to start trading in mid-July.
The prospectus now may not be published until the week of June 27, said analysts, still largely unconcerned by the delay.
"I don't think there is any problem with the listing," Madrid-based analyst Alejandro Varela of Renta 4 told SNL on June 22, noting that the holdup is attributable to administrative reasons. He also said the company should still start trading in mid-July as planned.
According to a June 22 Cinco Días report citing sources close to the transaction, the prospectus will likely be published only after regional bank holidays in Spain...