Reuters logo
Polish regulator gives Raiffeisen unit more time for IPO
May 24, 2016 / 2:41 PM / a year ago

Polish regulator gives Raiffeisen unit more time for IPO

WARSAW, May 24 (Reuters) - Polish financial regulator KNF gave Raiffeisen until the end of 2016 to sell part of its Polish unit Raiffeisen Polbank IPO-RBP.WA without Swiss franc-denominated loan portfolio to a Warsaw-listed bank, KNF said on Tuesday.

In case such a transaction did not materialise, KNF allowed Raiffeisen to conduct the earlier planned Initial Public Offering (IPO) of Raiffeisen Polbank in Warsaw until June 2017, the statement reads.

Originally, Raiffeisen has promised to float its Polish unit in Warsaw by the end of June 2016.

But analysts and sources said it was trying to convince KNF to give it more time for an IPO due to weak sentiment on the equity market and uncertainty regarding the proposed solutions concerning Swiss franc-denominated mortgages issue. (Reporting by Marcin Goclowski; Editing by Adrian Krajewski)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below