BA CA will not float on the Warsaw Stock Exchange

German bank HVB will sell a 25% stake of Bank Austria Creditanstalt (BA CA) in a public offer. Only a couple of days ago the bank planned to float a part of this offer on the Warsaw Stock Exchange. This idea was aborted, even though Polish financial institutions awaited it with great interest. Financial Times Deutschland reported that the reason for the withdrawal were legal obstacles. Puls Biznesu, learned that the Germans were not welcome by the Banking Supervisory Regulation Office (GINB), which feared that the entrance of BA CA on the market, would lead to investors withdrawing from HVB-owned, Polish bank, BPH PBK. GINB has rejected a solution proposed by the Germans who wanted to withdraw BPH PBK shares from public trading and swap the shares for BA CA ones. (Puls Biznesu, p. 7) A.K.