October 17, 2017 / 9:53 AM / a month ago

Polish regulator demands Raiffeisen Polbank be listed by mid-May

WARSAW, Oct 17 (Reuters) - Poland’s financial sector regulator KNF said on Tuesday that Raiffeisen must list at least 15 percent of shares in its Polish unit Raiffeisen Bank Polska IPO-RBP.WA on the Warsaw stock exchange by mid-may next year.

On Monday Polish business daily Puls Biznesu said that Austrian bank representatives want KNF to allow them to float the Polish unit, known as Raiffeisen Polbank, in 2019 at the earliest without its Swiss franc mortgages portfolio, which would increase the attractiveness of the offering.

Raiffeisen was expected to conduct an IPO by mid-2017 but failed to deliver on its promise. KNF warned on Tuesday that it may consider sanctions against Raiffeisen, such as stripping it of voting rights in Polbank after mid-May 2018 if it is not listed by this time. (Reporting by Marcin Goclowski, editing by Louise Heavens)

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