Getin will not sell its stake in Idea Bank

Investment and financial group Getin Holding has decided not to sell its stake in Idea Bank. However, it will participate in the bank's IPO scheduled to take place in H1 2015. Getin said in a market filing that ambitious valuation and the currently unfavorable market conditions stand behind the decision. Idea Bank plans to sell 20 million new shares, while Getin hoped to offload further 7 million, which accounts for 30.7 percent of the new planned total equity. Instead of selling its stake, Getin will sign up for the vast majority of the new share, which will be put on the market, the group informed.