Spanish Market is a blog about trends and news in the Spanish Stock Exchange. acquisition, stock exchange, banking, shareholder, crisis, energy, financial services. The savings bank pushes preparations ahead for the stock market flotation of its holding company in November, but does not rule out last-minute changes. Despite the financial hurricane currently hammering down on stock markets all over the world, Caja Madrid continues to push ahead with its preparations for the public stock flotation of its financial holding company, Cibeles at the end of this year, according to assurances from sources close to the savings bank. They however go on to explain that the financial entity does not rule out a last-minute reversal. If the situation in the markets continues to get worse it is highly probable that the savings bank will postpone the project to a later date, sources added. One of the reasons for this is that the bank knows that the market will value Cibeles based on the entity’s management capacity given that it will be floating its financial subsidiaries on the stock market and not industrial holdings. If the corporation suffered a misfortune in this respect it could have negative repercussions on the risk perception of the savings bank itself, even when seeking re-financing in the wholesale banking sector, according to sources in the know. Official spokespersons inside Caja Madrid refused to comment.