ABN Amro Rises in Return to Market After $3.6 Billion IPO
ABN Amro Group NV, a lender bailed out by the Dutch government during the financial crisis, rose as much as 3.4 percent on its return to the market after raising 3.3 billion euros ($3.6 billion). The bank sold 188 million shares at 17.75 euros apiece in the initial public offering, equivalent to a 20 percent stake and valuing ABN Amro at 16.7 billion euros, according to a statement on Friday. ABN Amro, the second-largest bank in the Netherlands, is a remnant of the company that fell prey to a takeover in 2007 by a group including Royal Bank of Scotland Group Plc, Banco Santander SA and Fortis NV. The Dutch state, which spent almost 22 billion euros to rescue the bank the following year, is recouping part of its investment in the first of a series of stake sales. Bloomberg’s David De Jong spoke to CEO Gerrit Zalm about the IPO.
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