September 27, 2017 / 7:16 AM / a year ago

Austrian bank BAWAG PSK planning Vienna IPO

VIENNA, Sept 27 (Reuters) - Lender BAWAG PSK, majority owned by U.S. private equity group Cerberus Capital Management, plans an initial public offering in Vienna that could be Austria’s biggest in a decade.

Sources told Reuters in June that the planned listing of a 20-30 percent stake could value Austria’s fourth-biggest lender at up to 5 billion euros ($5.9 billion).

“BAWAG Group AG, the holding company of BAWAG PSK, plans an initial public offering and the listing of its shares on the Vienna Stock Exchange,” the bank said in a statement. It did not specify a size or a price range.

$1 = 0.8506 euros Reporting by Francois Murphy; editing by Jason Neely

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