March 18, 2013 / 7:16 AM / 4 years ago

KBC, Santander launch market issue of BZ BKW shares

BRUSSELS, March 18 (Reuters) - Belgium's KBC said on Monday it and Spain's Banco Santander were placing almost 20 million shares in Polish lender Bank Zachodni WBK on the market on Monday.

KBC Bank is selling its 16.2 percent stake in BZ WBK, while Santander, which holds a 75 percent stake in BZ WBK, would be selling up to 5.2 percent.

The placement to institutional investors, to enable a free float of about 30 percent, would be priced at 240 to 270 Polish zloty. The shares closed on Friday at 268.80 zloty. (Reporting By Philip Blenkinsop)

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