Deutsche Post prices Postbank IPO at 28.50 eur/shr
Deutsche Post World Net AG said it has set at 28.50 eur/shr the
IPO price of its banking arm Postbank AG.
A statement late yesterday said the IPO was more than twice subscribed.
Postbank shares will be traded from today at Frankfurt’s stock exchange.
Deutsche Post also said the 1 bln eur exchangeable bond it is floating will
have a coupon rate of 2.65 pct and a conversion premium of 38 pct. The 3-year
bond is exchangeable for around 27.3 mln Postbank shares.
