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BAWAG PSK books already covered in Austria's biggest IPO
October 12, 2017 / 12:38 PM / 5 days ago

BAWAG PSK books already covered in Austria's biggest IPO

FILE PHOTO: The logo of BAWAG PSK Bank is pictured on one of its branches in Vienna, Austria, March 2, 2016. REUTERS/Leonhard Foeger/File Photo

ZURICH/VIENNA (Reuters) - Books are already covered for the listing of BAWAG PSK [CCMLPB.UL], the Austrian bank majority owned by U.S. private equity group Cerberus Capital Management [CBS.UL], one of the bookrunners said on Thursday.

BAWAG plans to raise up to 2.1 billion euros ($2.49 billion) in its initial public offering, which would be the biggest IPO in Austrian history. The deal values the bank at up to 5.2 billion euros.

“Books are covered within the range on the full deal size including greenshoe,” the bookrunner said.

Writing by Michael Shields

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