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Report: Polish regulator FSA maintains deadline for RBI to float Polish unit


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Report: Polish regulator FSA maintains deadline for RBI to float Polish unit

The Polish Financial Supervision Authority upheld its position regarding the June 30 deadline set for the IPO of Raiffeisen Bank Polska SA on the Warsaw Stock Exchange, news agency PAP reported May 30.

Under its existing commitment to the regulator, the Polish lender's parent, Raiffeisen Bank International AG, is obliged to float at least 15% of the unit during the IPO and list its own shares in Warsaw by June 2018 if it does not increase the free float of Raiffeisen Bank Polska to 25%, PAP cited the FSA as saying.

The newswire previously reported after Bloomberg that RBI wanted to postpone the IPO deadline due to uncertainty over the evaluation of the Polish unit's foreign-currency loan portfolio in the context of planned regulatory changes, with a meeting between the representatives of the bank and the FSA reportedly held May 30.

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 consider listing its own shares in Warsaw in 2018.