Novo Banco Shareholders to Vote on Steps for €1 Billion IPO

Bloomberg

2 days ago

Novo Banco SA shareholders will meet on Wednesday to vote on steps needed for a possible initial public offering of the Portuguese lender, although a final decision on whether to carry out a share sale won't be taken yet.
The agenda of the June 4 shareholder meeting includes the admission of shares to trading on the stock exchange and the review of the bank's articles of association, a Novo Banco spokesman said. These actions are a 'condition precedent' for the IPO process, but the effectiveness of the resolutions is subject to the final decision of the selling shareholders, according to the spokesman.