KNF denies second motion to postpone Raiffeisen IPO

Financial market regulator KNF dismissed the second Raiffeisen Polbank's motion to delay its obligation to float the lender on the Warsaw Stock Exchange by end-June this year. “RBI is obliged to carry out the IPO of Raiffeisen Bank Polska by the deadline of June 30, 2017, KNF said. The motion was dismissed unanimously. Under the agreement, Raiffeisen Bank Polska is committed to float at least 15 percent of its shares on the Warsaw Stock Exchange by June 30, 2017. Its owner, Austrian Raiffeisen Bank International is also set to dual list its shares on the WSE by mid-2018. If it fails to do so, the free float of its Polish unit has to be increased to 25 percent. The lender has submitted its issue prospectus on April 12, but later suspended works on it.