Novo Banco Says It’s Continuing to Prepare for a Potential IPO
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Novo Banco SA, a Portuguese lender that’s majority-owned by Lone Star, said it’s continuing to prepare for a possible initial public offering, with no exact timing set yet for a sale.
The bank continues to carry out the necessary work in preparation for a potential IPO, with the actual timing depending on market conditions, as previously mentioned, a spokesman for Lisbon-based Novo Banco told Bloomberg News on Monday. Novo Banco is closely monitoring market developments to assess the most appropriate timing for any strategic option, he said.