ABN Amro to IPO as early as Q4

Trading Desk

ABN Amro Group, the nationalized Dutch lender, plans to sell shares in an initial public offering in Amsterdam as soon as the fourth quarter, seven years after the bank was bailed out at the height of the financial crisis.

Bloomberg News reports that the move 'marks an important step towards our new future', Chief Executive Officer Gerrit Zalm said in a statement Tuesday.

With the IPO, the Dutch state is seeking to recover its $24.3bn investment, a rescue that involved breaking the company up after competitors took it over in a record deal in 2007. The government has said it aims to sell as much as 30% of ABN Amro this year and indicated the bank may be worth about $16.1bn.

ABN Amro is seeking to lure private investors after posting its most profitable quarter since it was reinvented in 2010. 

To access the complete Bloomberg News article hit the link below:

ABN Amro Proceeds With IPO Seven Years After a State Bailout

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