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Spain's Liberbank to sell 5 percent of technology firm Indra
August 5, 2013 / 5:38 PM / 4 years ago

Spain's Liberbank to sell 5 percent of technology firm Indra

MADRID (Reuters) - Spanish lender Liberbank (LBK.MC) said on Monday it had mandated Societe Generale (SOGN.PA) to sell 5 percent of technology company Indra S.A. (IDR.MC) by placing shares with institutional investors through an accelerated bookbuild.

Liberbank, formed by the merger of several Spanish savings banks in 2011, said the price for the shares would be decided by market demand. Indra’s shares closed at 11.45 euros ($15.16) on Monday.

Nationalized Spanish lender Bankia (BKIA.MC) sold 20 percent of Indra to state holding company SEPI for 337 million euros or 10.20 euros per share on Friday.

Reporting by Clare Kane; Editing by Anthony Barker

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