Deutsche Post World Net AG’s unit Postbank AG is reducing the size of its planned IPO to 1.5-2.0 bln eur from an earlier estimated 3 bln, Handelsblatt said, citing banking sources.
It said the number of shares to be sold would be smaller than planned.
Postbank has said it wants a listing before mid-July, and previously hoped to raise 2.5-3 bln eur from the share sale.
Escher powers the world’s first and last mile deliveries, helping Posts connect nearly 1 billion consumers with global ecommerce networks. Postal operators rely on Escher to deliver an enhanced retail and digital customer experience, to activate new revenue streams, and to realize new delivery economics. […]
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