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Investing.com -- Oldenburgische Landesbank AG (OLB), a regional German bank owned by private equity, is preparing for an initial public offering (IPO), Bloomberg News reported citing sources familiar with the matter. This move comes two years after the bank set aside an earlier plan for a public listing.
Backed by Apollo Global Management (NYSE:APO) Inc. and other investors, OLB is aiming for an IPO by mid-April. The bank’s potential valuation is estimated to be between €1.5 billion and €2 billion ($2.1 billion), the sources revealed, choosing to remain anonymous due to the confidential nature of the information.
Two years ago, the regional bank and its owners decided to postpone their listing plans. This decision was made in response to the collapse of Silicon Valley Bank and UBS Group AG (NYSE:UBS)’s rescue of Credit Suisse, which raised concerns about the banking industry. Despite these concerns, OLB is joining a growing list of firms planning to go public in Germany this year.
Based in Northwest Germany, Oldenburgische Landesbank AG is a profitable and rapidly expanding universal bank. It offers reliable advice and financial services to its customers across Germany and in selected neighboring European countries. The bank serves its customers both personally and digitally through its two renowned brands, OLB and Bankhaus Neelmeyer.
OLB has been functioning as a private bank since its establishment in 1869. The bank’s upcoming IPO is seen as part of its growth strategy, as it continues to strengthen its position in the German banking sector.
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