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1. Which investors can recoup their investment?

Any retail investors subscribing shares during Bankia’s IPO in 2011.

2. What documentation has to be provided?

A Spanish national identity card (DNI) and application form will suffice. If shares were bought or sold through an entity other than Bankia, a securities account statement must also be submitted showing any trades in Bankia shares between the date of subscription during the IPO and the application date, along with any documentation evidencing that the shares are free of charges or encumbrances. If shares have been sold, a receipt showing the amount obtained must also be provided.

3. What happens next after an application has been submitted?

Bankia will send applications to the bank’s department responsible for confirming that the shareholder is a retail investor who acquired the bank’s shares during the IPO and can therefore apply for a refund and recoup their investment plus compensatory interest over the period elapsed. This department will calculate the exact refund and will inform the corresponding branch so that it can immediately notify the shareholder who can then go to their local branch to sign the agreement to refund the money.

4. How much will a retail investor or shareholder participating in the IPO receive?

Their entire investment plus 1% compensatory interest per annum. A distinction must however be made between those who continue to hold shares bought during the IPO and those who have sold some or all of them.

5. What happens if I still own all the shares I bought during the IPO?

Bankia will refund 100% of what was invested during the IPO plus 1% compensatory interest per annum. You must return the shares in exchange.

6. What happens if I sold shares after the IPO?

You will be refunded the difference between the amount invested during the IPO and the price obtained on selling the shares. Compensatory interest of 1% per annum will also be added to this amount.

7. Where do I need to submit the documentation?

If you are a customer, it is preferable to visit your local Bankia branch; otherwise you can submit the documentation at any of the bank’s branches. 

8. Where will refunds be paid?

By default, refunds will be paid into the account linked to the securities account in which the shareholder’s shares are deposited. If they prefer, investors can also designate another account.

9. Which type of shareholders cannot apply for a refund?

Any obtaining or buying shares after Bankia’s shares began trading, as well as any qualified or institutional investors participating in the IPO. Also excluded are investors who only hold shares through hybrid instrument exchanges, and any who filed lawsuits that have been resolved in their favour or not.

10. What happens if I filed for an out-of-court settlement to recoup my money?

If an investor’s application is approved and their investment refunded, they must sign an agreement with the bank rendering null and void any claims for out-of-court settlement previously filed.

11. What happens if I have filed a lawsuit?

A shareholder can also apply for a refund even if they have filed a lawsuit, provided they sign an agreement with the bank on receiving the refund withdrawing their legal claim. Bankia will submit this agreement to the courts so that the lawsuit can be cancelled in accordance with the Law.

12. What is the cut-off date for applying for a refund?

Applications can be submitted from the 18 February 2016 for a period of three months.

13. How long will it take to receive a refund after submitting my application?

In normal circumstances, and provided that all the required documentation is submitted to your branch, your investment will be refunded in full plus interest within 15 days. The only delay may be in certain situations concerning ownership of the shares, e.g. as a result of an inheritance.

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