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EBRD reduces stake in Poland’s Alior Bank S.A.

By Axel  Reiserer

Partial exit signals confidence in bank’s future strategic direction and strength of its performance since IPO
The EBRD has today reduced its equity stake in Alior Bank S.A., one of the leading consumer banks in Poland. The Bank sold 2.1 million shares through an accelerated bookbuild placement on the Warsaw Stock Exchange.
The transaction was successfully launched after the market’s close on the Warsaw Stock Exchange on 8 January 2015. The sale attracted strong interest and demand from a broad mix of institutional investors both in Poland and internationally. Citigroup acted as sole bookrunner of the offering. Following the sale, the EBRD continues to hold 5.023% of Alior’s shares.
Lucyna Stańczak-Wuczyńska, EBRD Director for EU Banks in the Financial Institutions team, said: “We are very pleased with Alior Bank’s achievements over the past two years, notably its strong position as an innovative and fast-growing bank in Poland. The bank’s resilient and adaptable business model, its proven ability to face headwinds with speed, openness and transparency, its committed and experienced management and the all-important support from stakeholders make Alior a strong, resilient and experienced bank.”
 “As a continuing shareholder, the EBRD remains confident about Alior’s future prospects and capacity to strengthen its profitability and market position. By reducing our stake we are increasing the liquidity of Alior’s stock, while we continue to support the bank’s ongoing growth strategy. In addition, this transaction contributes to the further development of the Polish capital market”, Ms Stańczak-Wuczyńska concluded.
Since the beginning of its operations in Poland in 1991, the EBRD has invested €7 billion in more than 330 projects in the country. In addition to its wide product range for banks and companies, in recent years the Bank has also built a growing portfolio of investments (both equity and debt) in the Polish financial sector, for which demand remains high.
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