German Deutsche Post’s Postbank hopes to raise Eur3 bln from flotation
Postbank, the banking arm of the German postal authority Deutsche Post, is hoping to raise a little over three billion euros (3.6 billion dollars) from its initial public offering (IPO) at the end of June.
In order to estimate its market value, Postbank undertook a comparison with other big listed European banks specialising in retail banking. The banks lead-managing the flotation estimated Postbank was worth a total 6.1 billion euros
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