Deutsche Post’s banking unit eyeing flotation before summer

Postbank, the banking arm of the semi-privatised German postal authority Deutsche Post, has said it is planning to list on the stock exchange before the summer.

“Barring any unforeseen circumstances, Postbank shares will be listed on the stock exchange for the first time before the summer break,” Postbank chairman Wulf von Schimmelmann said in a statement, without providing any precise date.

German press reports have suggested a date of June 21.

Deutsche Post had originally planned to float Postbank in the autumn, but said at the begininng of the month that the initial public offering (IPO) could be brought forward if preparations were completed earlier.