Oldenburgische Landesbank AG, a German lender backed by private equity firm Apollo Global Management, has but the brakes on plans for an IPO that was expected to happen as early as May of this year, according to a report by Bloomberg.
Oldenburgische Landesbank AG (OLB), a German lender backed by private equity firm Apollo Global Management, has but the brakes on plans for an IPO that was expected to happen as early as May of this year, according to a report by Bloomberg.
According to unnamed Bloomberg sources, the decision to put the listing on hold was prompted by concerns over the health of the global banking sector following the demise of Silicon Valley Bank, Signature Bank and Credit Suisse’s emergency acquisition by rival UBS.
OLB remains committed to pursuing a listing once market conditions improve, according to one of Bloomberg’s sources, with the bank originally hoping to achieve a value of well over €1 billion from its IPO.
