UPDATE 1-Poland's PKO BP approves plan of Bank Pocztowy IPO

April 24, 2015 11:59 AM

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WARSAW, April 24 (Reuters) - Poland's biggest bank PKO BP said on Friday it had agreed with Polish state postal operator Poczta Polska for a Warsaw initial public offering (IPO) of Bank Pocztowy, a medium-sized lender in which both firms have stakes.

Earlier on Friday, a source told Reuters that state-controlled PKO, which holds 25 percent in Pocztowy, and Poczta Polska, which owns the rest, decided to launch the IPO, in which Pocztowy may raise at least 200 million zlotys ($54 million).

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