abn amro confirms ipo before 2015
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
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.

arabstoday
arabstoday

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*

abn amro confirms ipo before 2015 abn amro confirms ipo before 2015

 



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*

abn amro confirms ipo before 2015 abn amro confirms ipo before 2015

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday