Bank Pocztowy mulls IPO this year
PR dla Zagranicy
John Beauchamp
26.04.2015 11:25
The State Treasury has greenlighted Bank Pocztowy’s plans to launch on the Warsaw Stock Exchange.
Photo: cc/Wikimedia Commons/Henryk Borawski
Shareholders in Poczta Polska (Polish Post) and majority state-owned lender PKO BP, which control the bank, have also come to an agreement on the bank’s flotation.
“It is with satisfaction that I have acknowledged the agreement between PKO BP and Poczta Polska,” the State Treasury Minister Włodzimierz Karpiński said in a statement.
“Thanks to the [IPO, Bank Pocztowy] will gain capital for necessary development,” he added.
On Friday, PKO BP wrote in a statement that the IPO would help gain capital for the development of the bank.
“PKO’s assumption is that the Bank Pocztowy offer may also encompass one third of PKO’s shares,” PKO underlined, adding that “the IPO process will be successfully undertaken this year”.
Meanwhile, Minister Karpiński wrote in the statement that the bourse debut of Bank Pocztowy should also be taken in the context of the overall plans of the Poczta Polska group.
“The Poczta Polska group still has great challenges ahead which are linked to the functional changes it has to make with regards to its competition on the market,” Karpiński wrote.
Currently, Poczta Polska owns 75 percent plus 10 sharess in Bank Pocztowy, while PKO BP owns 25 percent minus 10 shares. (jb)
Source: PAP