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BAWAG advances IPO preparations, Morgan Stanley helps - sources
June 21, 2017 / 10:26 AM / 6 months ago

BAWAG advances IPO preparations, Morgan Stanley helps - sources

FRANKFURT/ZURICH, June 21 (Reuters) - BAWAG PSK is moving ahead with preparations for an initial public share offer that could value the Austrian bank at up to 5 billion euros ($5.6 billion) and has picked a lead organiser, people close to the matter said.

It majority owner, private equity investment group Cerberus , has tasked Morgan Stanley with acting as so-called global coordinator for the share sale, which could launch as early as autumn, the sources said.

However, no official mandates are out yet and more banks will be added in coming weeks, the sources said, adding Goldman Sachs and Citi also stand good chances of being part of the bank line-up.

Rothschild is seen as having an edge over Lazard and Evercore to take the role as a so-called independent IPO adviser, which will help with the selection of bookrunners, they added.

BAWAG and the investment banks declined to comment. (Reporting by Arno Schuetze; Editing by Harro ten Wolde)

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