On June 29, 2011, Bankia presented its IPO prospectus to the CNMV.
A document of 403 pages, of which 22 were dedicated to the risks that investors could incur if they bought shares in a financial institution created from the sum of seven savings banks throughout Spain.
They spoke from the high credit exposure to the housing sector (61.6% between mortgage loans and developers) to sovereign risk (Bankia had a portfolio of 10,300 million
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