Advertisement
Singapore markets closed

  • Straits Times Index

    3,332.80
    -10.55 (-0.32%)
     

  • Nikkei

    39,583.08
    +241.54 (+0.61%)
     

  • Hang Seng

    17,718.61
    +2.14 (+0.01%)
     

  • FTSE 100

    8,164.12
    -15.56 (-0.19%)
     

  • Bitcoin USD

    61,346.77
    +490.76 (+0.81%)
     

  • CMC Crypto 200

    1,273.48
    -10.35 (-0.81%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • Dow

    39,118.86
    -45.20 (-0.12%)
     

  • Nasdaq

    17,732.60
    -126.08 (-0.71%)
     

  • Gold

    2,336.90
    +0.30 (+0.01%)
     

  • Crude Oil

    81.46
    -0.28 (-0.34%)
     

  • 10-Yr Bond

    4.3430
    +0.0550 (+1.28%)
     

  • FTSE Bursa Malaysia

    1,590.09
    +5.15 (+0.32%)
     

  • Jakarta Composite Index

    7,063.58
    +95.63 (+1.37%)
     

  • PSE Index

    6,411.91
    +21.33 (+0.33%)
     

Portugal's Novo Banco to be operationally ready for IPO in H1 2024

Reuters
·1-min read

LISBON, Nov 2 (Reuters) - Portugal's Novo Banco will be operationally prepared for a potential initial public offering in the first half of 2024, CEO Mark Bourke told Reuters on Tuesday, adding though that the market's opening to new listings has suffered a setback.

"For us, as a bank, our job is to be ready when shareholders are ready to do so. My view is still the same: operationally the bank will be ready (for an IPO) in the first half of 2024," he said in a phone interview.

Markets' appetite for IPOs "had a very significant setback in recent weeks" with the tension in the Middle East, he said, adding that the bank expects to seize an opportunity when such arises.

Analysts have speculated that Novo Banco, which emerged from the ruins of the collapsed Banco Espírito Santo in 2014 and is 75% owned by US private equity fund Lone Star, could be merged with another lender looking to further consolidate its position in Portugal such as Millennium bcp. (Reporting by Sergio Goncalves;)