Arab Today, arab today abn amro confirms ipo before 2015
Last Updated : GMT 12:45:25
Arab Today, arab today
Arab Today, arab today

ABN Amro confirms IPO before 2015

Arab Today, arab today

Arab Today, arab today ABN Amro confirms IPO before 2015

ABN Amro, the Netherlands' third largest bank
The Hague - AFP

Dutch bank ABN Amro confirmed Tuesday plans to sell the first of its state-owned shares in an initial public offering later this year, seven years after a multi-billion state-sponsored bailout.     

The Netherlands' third largest bank was nationalised during the height of the 2008 banking crisis when the Dutch government bailed out the lender in a 22-billion-euro ($24-billion) deal.

The government has held the reigns ever since at the bank, now valued at around 15 billion euros ($16.5 billion).

"All approvals (for the IPO) including from the Dutch parliament, the Dutch Central Bank and the European Central Bank have been received," ABN Amro said.

"Barring unforseen circumstances, the offering could be launched as of Q4 2015," ABN Amro said in a combined statement with the government agency charged with the bank's administration.

Dutch Finance Minister Jeroen Dijsselbloem announced the bank's sale in May, but at the time not all approvals for the deal had been received.

Dijsselbloem said then that the sale's first tranche will consist of about 20-30 percent of the bank.

Gerrit Zalm, who chairs ABN Amro's managing board, said the move marked "an important step towards our new future."

The Netherland's third-largest bank after ING and Rabobank, ABN Amro traces its roots back to the 19th century.

It was listed on the Amsterdam stock exchange before being bought in 2007 by a consortium consisting of Spanish Santander, the Royal Bank of Scotland and Belgian-Dutch Fortis.

The 71-billion-euro deal, one of the largest in banking history, however ultimately proved a calamity for its buyers when the global financial crisis hit.

Fortis was dismantled during the 2008 banking crisis to avoid bankruptcy and its Dutch activities including its share in ABN Amro were bailed out by the Dutch government, which then merged it back into ABN Amro Bank.

Dijsselbloem in March delayed the bank's privatisation, which had been expected in the first quarter of this year, because of public anger over salary hikes for its board of directors.

The directors eventually gave up their pay rises of around 100,000 euros.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today abn amro confirms ipo before 2015 Arab Today, arab today abn amro confirms ipo before 2015

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday