11.15 PM Monday, 2 October 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:54 06:08 12:11 15:33 18:08 19:22
02 October 2023

Santander mulls IPO for UK arm

By Reuters

Spanish bank Santander is considering the sale of a minority stake in its UK arm through a stock market flotation to potentially repeat a windfall from a Brazilian spinoff last year, industry sources said.

Analysts and industry observers have been speculating about a potential public share offering for Santander's fast-growing UK arm since the euro zone's largest bank struck gold with the market debut of its Brazilian subsidiary in October last year.

The sources said several investment banks pitched the IPO idea to Santander as part of broader fundraising strategies and the idea was being considered by the bank.


Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.