Banco Santander SA Looks To Resume IPO Plan For U.K. Unit-DJ

Thursday, 6 Jun 2013 08:45pm EDT 

Dow Jones reported that Banco Santander SA is looking to resume its Initial Public Offering (IPO) plan for its U.K. unit in 2014 after postponing it in 2010 due to adverse market conditions, reports Expansion in latest edition, citing sources close to the Spanish bank. The IPO could be launched after the British government privatizes part of its 45% stake in Lloyds Banking Group PLC , which is expected to take place at the end of 2013 or in the first half of 2014, the newspaper adds, adding the value of Lloyds would be used as a reference. Santander UK is looking to raise between 4 billion and 5 billion British pounds ($6.2 billion-$7.8 billion) on the sale of a 20% stake on the London stock exchange, according to Expansion. 

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