Raiffeisen still working on Polish IPO but might sell it instead

Raiffeisen Bank International CEO Johann Strobl that the lender is still working on the IPO of its Polish unit, however, it had not finally decided on whether to sell or list the business and is in negotiations with an investor to sell the unit. Raiffeisen Polbank was under the obligation to KNF to float 15 percent of its shares by end-July last year. However, due to low interest, the lender suspended the procedure and was granted the extension by the Financial Supervision Authority KNF till May 15, 2018, to do so. According to Reuters, BGŻ BNP Paribas is close to buying Raiffeisen Polbank. “It looks like BNP will buy Polbank. The decision will be taken within 2 weeks, at the beginning of April at the latest,” the source said, speaking on condition of anonymity. BGŻ BNP Paribas delayed presenting its latest strategy as it was considering its growth options on a “very fundamental” level. The new document should be published in April.