Oldenburgische Landesbank (OLB) Considers IPO in 2023
TL;DR:
- Oldenburgische Landesbank (OLB) has expressed interest in an initial public offering (IPO) later this year.
- The bank has seen significant growth in recent years and believes market conditions are favorable.
- The decision ultimately lies with OLB’s owners, three financial investors from the US and UK.
Introduction:
Oldenburgische Landesbank (OLB), a German bank with a strong presence in northwestern Germany, is considering an initial public offering (IPO) in 2023. The bank’s board of directors has expressed a willingness to go public, citing favorable market conditions.
Börsenfähig and Börsenwillig:
Speaking at a financial results presentation in Frankfurt, OLB’s CEO Stefan Barth stated that the bank is "börsenfähig" (ready for an IPO) and "börsenwillig" (willing for an IPO). Barth noted that the bank’s financials and operations meet the requirements for an IPO.
Owners’ Decision:
However, the ultimate decision to go public lies with OLB’s owners, three financial investors from the US and UK: Apollo, TRS, and Grovepoint. Barth acknowledged that there is not complete consensus among the owners regarding an IPO.
Possible Timeframes:
Barth identified two potential timeframes for an IPO: spring and fall 2023. The bank would need to make a decision soon to prepare for an IPO within one of these timeframes.
Favorable Market Conditions:
Barth cited the current market conditions as favorable for an IPO. He believes the market has not been as strong in a long time and sees this as an opportunity for OLB.
Strong Performance and National Expansion:
OLB has experienced strong performance in recent years, driven by the acquisition of Degussa Bank in 2022. The acquisition expanded OLB’s branch network to 80 locations across Germany and increased its customer base to over one million.
National Ambitions and Growth Plans:
Barth emphasized OLB’s ambition to become a nationwide brand. The bank plans to continue growing both organically and through acquisitions.
Conclusion:
Oldenburgische Landesbank (OLB) is seriously considering an IPO in 2023. The bank is financially strong and has a growth strategy that positions it well for the future. The decision to go public ultimately lies with the bank’s owners. Market conditions are favorable, and the bank is optimistic about its prospects if it decides to pursue an IPO.
