Netherlands-based NIBC Bank NV is poised to announce as soon as Feb. 26 its intention to launch an IPO, Reuters reported, citing banking sources.
One of the sources told the newswire that the lender could be valued at between €1.5 billion and €1.8 billion in the listing, a minor discount to its book value of €2 billion.
Morgan Stanley, Citi and Deutsche Bank will act as global coordinators for the IPO, while ING and ABN Amro will act as book runners, the sources added.
The bank said earlier in February that a review of strategic alternatives, which includes a potential IPO, was ongoing and preparations were progressing well. CEO Paulus de Wilt said a final decision will be "dependent upon market circumstances."
NIBC on Feb. 8 reported a net profit of €213 million in 2017, more than double the €104 million recorded in 2016.