ABN Amro to raise up to €3.76bn in November 20 float

GMT 16:16 2015 Tuesday ,10 November

Arab Today, arab today ABN Amro to raise up to €3.76bn in November 20 float

Dutch bank ABN Amro
The Hague - AFP

Dutch bank ABN Amro, which was nationalised during the 2008 financial crisis, said on Tuesday it will return to the stock market on November 20, in Europe's biggest stock offering in years.

ABN Amro will offer 20 percent of its capital to investors.

This first tranche, priced at between 16 and 20 euros per share, is to raise up to 3.76 billion euros ($4.04 billion), it said.

This values the bank at between 15 and 18.8 billion euros, making the sale one of the biggest operations ever at the Amsterdam stock exchange and the biggest since the financial crisis, analysts said.

The Dutch government said it spent 22 billion euros to bail out ABN Amro, but Dutch media put the figure at closer to 32 billion.

ABN Amro, once a major global player, has been concentrating on its Dutch home market under the government's ownership.





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