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Raiffeisen to Bank Polska to debut on the WSE

Raiffeisen Bank Polska, Polish unit of Raiffeisen Bank International, will debut on the WSE with the offering expected to start by the end of June, the bank said in two separate statements.

"Raiffeisen Bank Polska S.A., a wholly owned subsidiary of Raiffeisen Bank International AG (RBI), today announced its intention to float shares by way of an Initial Public Offering (IPO) on the Warsaw Stock Exchange," the intention to float document released early Monday reads. "The terms and timing depend on market conditions and cannot yet be communicated."

Raiffeisen Bank Polska's IPO will consist of 33,850,251 existing shares representing a 15% stake, the bank said in a separate statement.

The IPO "is expected to comprise a public offering to institutional investors in Poland, and a private placement to international institutional investors outside of Poland and the United States of America . . .," RBP said. "The Offering is planned to commence by the end of June 2017."

Details will be available once the prospectus is approved by Polish financial market regulator KNF. Work on the regulatory review of the issue prospectus has been resumed after a prior suspension, a note on the KNF website indicated Monday afternoon.

Raiffeisen Bank International AG, Citigroup Global Markets Limited and Dom Maklerski Banku Handlowego S.A. have been named as the Joint Global Coordinators and Raiffeisen Bank Polska S.A. Dom Maklerski Raiffeisen Bank Polska S.A. is acting as the Offering Agent.

Last week KNF dismissed RBI's motion to alter its obligation to float the Polish unit and said it still expects the IPO to happen by the end of June 2017. RBI has to secure a 15% free-float and increase the free float to 25% if its doesn't secure its own dual-listing in Warsaw to mid-2018, KNF said previously.

RBI submitted an issue prospectus for its Polish unit on April 12.

2017-06-20



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