Published: November 21, 2012
Alior Bank’s offering will be the largest by a private company in Poland.
Poland’s Alior Bank is set to launch the biggest IPO ever undertaken by a private Polish company. It plans to sell 3.6bn Polish zloty (US$1.1bn) of shares, which equates to 51 million individual units, according to a prospectus on the bank’s website.
The offering will be in two stages. The primary offering, made by the bank, will look to raise US$217mn through the issue of 25 million new shares. The secondary offering, which will involve the sale of a stake by Alior Bank’s founding company Carlo Tassara SPA, will make up the balance. The offering will be handled by Barclays Plc, JPMorgan Chase, Morgan Stanley, Ipopema Securities SA, Erste Group Bank AG and Renaissance Capital.
Although only founded in 2008, Alior Bank now has the third-largest branch network in Poland. The bank plans to start trading on December 14.