Santander UK IPO could hit further delay

first_img Tags: NULL whatsapp KCS-content Thursday 3 February 2011 8:23 pm Santander UK IPO could hit further delay THE slated £5bn float of a fifth of Santander’s UK business might not get away until 2012, according to a person close to the IPO process. “If the markets are not in the right condition, it’ll be 2012. There’s a figure in mind the bank wants to get,” said the source. The prospect of putting back the float follows comments by the group’s chairman Emilio Botin, who yesterday pushed back expectations of a float to the second half of this year.Former chief executive Antonio Horta-Osorio forecast last year that it would take place before the third quarter of 2011. One analyst told City A.M. that the float could be put off “indefinitely” if market conditions for banks do not improve. Industry values have been depressed by an impending onslaught of regulation that could increase banks’ costs and restrict their business models.The uncertainty surrounding the float follows a fourth quarter earnings report dented by worsening non-performing loans, mostly in mortgages in Spain and Portugal, as well as a one-off liquidity requirement imposed by the Bank of Spain in the third quarter of 2010 that cost €472m (£401.5m). Pre-tax profit for the group rose by a slim 2.4 per cent to €12.1bn but net profit was down 8.5 per cent. Despite a drag from the Eurozone, the bank earns 65 per cent of its profits outside continental Europe. Its shares closed 1.7 per cent lower at €8.99 yesterday. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoHero WarsAdvertisement This game will keep you up all night!Hero WarsUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndoBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoLiver HealthAdvertisement 1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndocenter_img whatsapp Show Comments ▼ More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sharelast_img


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