Raiffeisen Bank International AG intends to ask the Polish Financial Supervision Authority for permission to move the deadline for the IPO of Raiffeisen Bank Polska SA on the Warsaw Stock Exchange, news agency PAP reported May 30, citing Bloomberg News.
The Austrian parent reportedly wants to postpone the IPO due to uncertainty over the evaluation of Raiffeisen Bank Polska's foreign currency mortgage portfolio in the context of discussed regulatory changes in this area. Representatives of RBI and the FSA are set to meet May 30 to discuss the issue, Bloomberg reportedly said, citing unnamed sources.
RBI is required under its agreement with FSA to list 15% of Raiffeisen Bank Polska on the Warsaw Stock Exchange by June 30. The regulator also required the lender to increase the float of the Polish unit to 25% by the end of June 2018 or double-list its own shares. RBI CEO Johann Strobl said earlier in May that the parent will not offer more than 15% of Raiffeisen Bank Polska in the June IPO in the current market conditions, and would rather go for the double-listing option in Warsaw in 2018.