The European Bank for Reconstruction and Development (EBRD) has cut down equity stake in its Poland’s consumer lender Alior Bank.
The lender said that it has sold 2.1 million shares via an accelerated bookbuild placement on the Warsaw Stock Exchange.
EBRD continues to hold 5.023% of Alior’s shares after the sale for which Citigroup acted as sole bookrunner.
EBRD director for EU banks in the financial institutions team Lucyna Sta?czak-Wuczy?ska said, "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."
The sale attracted strong interest and demand from a broad mix of institutional investors both in Poland and internationally, the EBRD said.
Established in Poland in 1991, the EBRD has invested EUR7bn in more than 330 projects across the country.