Germany-based private sector lender Oldenburgische Landesbank (OLB) has halted its initial public offering (IPO) plans, Bloomberg has reported citing undisclosed sources

OLB’s listing was supposed to take place as early as May 2023.

Investors’ concerns regarding the state of the global banking system led to the decision to postpone the planned German listing, the sources said. 

Earlier this month, US-based Silicon Valley Bank and Signature Bank collapsed, sending shockwaves across the global banking industry. 

Shortly after that, UBS decided to take over the troubled Swiss bank Credit Suisse with the support of The Swiss National Bank (SNB).

These developments have triggered a rush from risk, making it more challenging to execute IPOs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

According to data compiled by the publication, only over $2bn has been raised via new listings on European exchanges so far this year, a decrease of about 50% from the same period last year.

Earlier this year, OLB, which is backed by the private equity company Apollo Global Management, roped in several banks for its IPO. 

The bank has hoped to list in the first half of the year at a valuation of over €1bn. 

OLB’s representative declined to comment and requests for comment were not immediately answered by an Apollo spokesperson.

Headquartered in Oldenburg, OLB was formed by combining several smaller lenders.

Some of these had previously been controlled by the Italian bank UniCredit and the German insurance company Allianz.

Last September, OLB signed a deal to buy Degussa Bank in a deal valued at €220m.

Through the agreement, OLB intends to scale its retail operations around the nation and add approximately 340,000 new customers.