Polish lender Bank Pocztowy bracing for IPO -source

April 24, 2015 9:59 AM

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WARSAW, April 24 (Reuters) - Owners of medium-sized Polish lender Bank Pocztowy decided on Friday to launch an initial public offering to raise at least 200 million zlotys ($53.65 million) to fund growth, a source familiar with the matter said.

"Pocztowy wants to sell new shares worth 200 million zlotys. The valuation target is 1.2-1.4 price/book value, which implies that the whole entity is worth 600 million zlotys before the share issue," a senior source said under condition of anonymity.

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