ABN Amro lists higher in record-breaking Dutch IPO

20th November 2015, Comments 0 comments

Dutch lender ABN Amro listed a share price of 18.18 euros on the Amsterdam stock exchange's AEX Index on Friday, seven years after a state bailout in 2008.

The listing, up 2.39 percent from an initial offer of 17.75 euros ($18.90) per share, is one of the biggest IPOs by a European bank since the height of the 2008 banking crisis, when the Dutch government bailed out ABN Amro with a 22-billion-euro loan.

ABN Amro said in a statement earlier Friday the initial share price of 17.75 euros would raise some 3.3 billion euros and that it gave the Netherlands' third-largest bank a current value of 16.7 billion euros.

The bank and state administrators confirmed in a joint statement that a further 3.0 percent share was available and "can be exercised to cover over-allotments or short positions" if there is a high demand.

© 2015 AFP

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