October 24, 2017 / 6:10 PM / a month ago

Austria's BAWAG sets IPO price at 48 eur/shr

VIENNA, Oct 24 (Reuters) - Austria’s BAWAG, the former trade union bank bought by U.S. private equity firm Cerberus Capital Management, said on Tuesday it had set the price for its stock market listing at 48 euros per share.

The selling shareholders will raise approximately 1.93 billion euros ($2.27 billion), the lender said in a statement.

BAWAG shares will start trading on the Vienna Stock Exchange on Wednesday. ($1 = 0.8504 euros) (Reporting by Kirsti Knolle; editing by Francois Murphy)

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