Friday, March 27, 2015 - 09:32
Summer IPO expected for ABN Amro
Minister Jeroen Dijsselbloem of Finance will reveal the plans regarding ABN Amro's IPO this morning. It is believed that the national bank will return to the stock market after summer, RTL reports. ABN Amro and Fortis were nationalized in October 2008 for a sum of over 30 billion euros. The Dutch state has since then recovered some of that through dividends. The IPO is expected to bring in around 15 billion euros. The part that is expected to be placed on the stock market largely consists of ABN Amro's Dutch activities. In February the Finance minister stated that the decision on the IPO will be made "very soon". Back then the government still had to discuss whether the bank is ready for the IPO, whether there is enough demand from investors, and whether the financial sector as a whole is ready for independence. In 2007 ABN Amro was removed from the stock market and divided by a consortium consisting of Fortis, RBS and Banco Santander. Fortis got the weakened Dutch part, which ended up in a lot of trouble during the credit crisis in 2008. That was when thhe then Minister of Finance, Wouter Bos, decided that it was necessary to nationalize the bank.