ABN Amro Says Early 2015 is Good Time For IPO
ABN Amro Chairman Gerrit Zalm said that early 2015 is a good time for an initial public offering (IPO) if Dutch economy recovers, reports Bloomberg News.
In The Hague on Wednesday, Zalm told lawmakers he sees early 2015 as a good moment for IPO if the Dutch economy has recovered from its third recession in five years and bad-loan provisions ease.
Zalm also said that there will no problem if IPO is delayed for six months or a year.
In August, the Dutch government said that it plans to sell ABN Amro in an IPO for as much as €15 billion, less than the €22 billion euros the nation invested.
Michael Enthoven, chairman of the government’s NL Financial Investments agency, also told lawmakers that the European Central Bank (ECB) must complete its review of euro-area lenders before a decision is made on how to sell ABN Amro.