1 Min Read
VIENNA, July 13 (Reuters) - Austrian lender Raiffeisen Bank International stands by its commitment to list at least 15 percent of its Polish unit in Warsaw despite having postponed the initial public offering (IPO), its finance chief said in comments published on Thursday.
"We are in very close contact with the Polish (financial) supervisor and we stand by our promise to list Polbank on the stock market," Gruell told in-house newspaper Raiffeisenzeitung, referring to the Polish unit Raiffeisen Bank Polska (IPO-RBP.WA).
"We are making good progress with the restructuring (of Polbank) but we cannot yet present results to the market. The timing was very unfavourable for an IPO, also for this reason," he added. (Reporting by Francois Murphy; Editing by Shadia Nasralla)