Fadesa in €462m IPO

Fadesa Immobiliaria, the real estate company, is set to raise as much as €462m ($551m) if it prices at the top of its range in Spain's first initial public offering (IPO) for nearly two years.

Banco Bilbao Vizcaya Argentaria (BBVA), Credit Suisse First Boston (CSFB) and Morgan Stanley are joint bookrunners for the new offer.

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