Rothschild to advise on IPO for Austrian lender BAWAG, say sources: Reuters

The owners of Austrian lender BAWAG PSK have hired Rothschild to advise them on an initial public share offer that could take place as early as autumn, two sources close to the matter told Reuters on Thursday.

Morgan Stanley and Goldman Sachs have been named the top global coordinators among a slew of banks working on the deal, which sources said in June could value Austria’s fourth-biggest bank at up to 5 billion euros.

Private equity group Cerberus Capital Management owns 52 percent of BAWAG and GoldenTree Asset Management 40 percent. The plan is to list a stake of 20 to 30 percent of the lender. One source said the sole listing would be on the Vienna Stock Exchange.

Rothschild, Morgan Stanley and BAWAG declined comment, while Goldman Sachs was not immediately available.