Novobanco CEO peddles IPO in New York, London and Frankfurt

 In Banks, News, Novo Banco

The CEO of Novobanco has been on a charm offensive with potential investors in New York, London and Frankfurt to sound out their appetite for a planned Initial Public Offer of shares floated on the stock market next year.

According to the daily online news site ECO, Mark Bourke has held preliminary meetings with investors, including in Munich and Copenhagen.
Along with Mark Bourke, the bank’s FCO, Benjamin Dickgiesser took part in the meetings with investors to sound out the market’s appetite for the IPO.
The process will once again hopefully lead the bank to being listed on the stock markets, taking into account that BES, from which Novobanco was created, was listed until its fall nine years ago.
The bank is currently looking for banks to act as consultants to help it structure the float operation according to the site Mergermarket that specialises in mergers and acquisitions.
While the bank has made no official comment, in a recent interview with ECO, CEO Mark Bourke said that they were working towards preparing the bank operationally for when it eventually went to the market that could take place in the second half of 2024.
“Then the next step will depend a lot on wether the markets are open to an IPO”, he said in that interview, adding that they were looking for a dual listing at Euronext Lisbon and one other international stock market. A float of over €2Bn in shares has been mooted.