Reuters: Raiffeisen considers IPO of Polish unit to raise cash

(Reuters) – Austria’s Raiffeisen could list a large slice of its Polish business in an initial public offering this year to raise cash, alongside the option of selling it outright to an investor, two sources familiar with the deliberations said.

Market sources told Reuters in December Raiffeisen Bank International (RBI) was looking to sell Raiffeisen Polbank to offset what is expected to be the group’s first ever full-year loss in 2014.

Raiffeisen was already planning an IPO anyway because it is required by the Polish regulator to float at least 15 percent of its equity by mid-2016. However, the bank was now looking at an IPO this year as a way to raise funds, the two sources said.

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