Tag: Post Bank

Fewer than 50 per cent of employees of Deutsche Post, the German postal service, have subscribed to shares in Postbank, the company’s banking subsidiary, which is to be floated on the stock market on June 21. In addition, only 63 per cent of Postbank staff have subscribed to the shares, despite the fact that the company had offered staff who wished to subscribe to 270 euros’ worth of shares half of the shares free of charge, while the remaining shares could be obtained as an interest-free loan if desired.

Germany’s financial services regulator said it is looking into reports about Deutsche Bank’s role in the planned offering of shares in Postbank, the banking unit of mail service Deutsche Post.

Deutsche Bank, Germany’s biggest, is acting as one of the global coordinators in Postbank’s initial public offering, set for June 21. But the buildup was marked by speculation that it was mulling a takeover over Postbank itself and a report that an internal memo on Postbank’s valuation was leaked.

Deutsche Post, the German postal service, is confident that the planned flotation of Postbank, its banking subsidiary, will be successful, despite the fact that the price range for shares in the bank has been strongly criticised by investors. The price range has been set at 31.50 to 36.50 euros per share. Deutsche Post claims that foreign investors have shown particular interest in the bank so far; however, several major Anglo-Saxon fund companies are reported to find this price range too high.