EU competition regulators will order shares of nationalised Spanish bank Bankia be valued at 0.01 euros each, resisting pressure from Spanish authorities for a higher price, a European Commission source said.

Bankia's minimal valuation is being disputed by Spanish authorities, which had been seeking a 0.10 euros per share valuation, sources familiar with the matter told Reuters last week.

The figure is crucial as Bankia prepares to swap debt into shares as part of a 10.7 billion euro (9.1 billion pounds) capital hike, affecting hundreds of thousands of small investors.

(Reporting by Foo Yun Chee; editing by Phil Blenkinsop)