KNF obligations regarding IPO have not changed – Raiffeisen CEO

According to Raiffeisen CEO, which owns Raiffeisen Polbank, Johann Strobl, said that the Polish Financial Supervision Authority did not expand the banks' obligation regarding its IPO after postponing the date to May 2018. “The Polish regulator had not tightened the conditions. We want to fulfill the obligation to bring the bank to the Warsaw Stock Exchange, but it must also be an attractive environment for us,” Strobl said. He added that the bank did everything possible to meet obligations in Poland and will do that again, he also added that since the obligations have not changed, Raiffeisen Polbank still plans to list 15 percent of its shares on the WSE. Raiffeisen Bank Polska was under the obligation to KNF to float 15 percent of its shares by end-July. However, due to low interest, the lender suspended the procedure. The reason for small interest was the bank's low profitability and portfolio of toxic Swiss franc-denominated mortgages. KNF said when extending the deadline that it hopes for an “improved offer,” and will include new shares on top of existing ones. It also hopes that the lender will “include retail investors and improve communication with markets.”