FTI provides communication support for bank IPO
FTI Consulting‘s financial services team has provided communications support for the successful IPO of MONETA Money Bank, formerly GE Money Bank, in the Czech Republic.
MONETA’s shares started unconditional trading on the Prague Stock Exchange last week.
FTI’s senior MD Neil Doyle, supported by director Jess Colman and senior consultant Mitch Barltrop, advised MONETA and its selling shareholder, GE Capital, on the transaction.
The IPO, which forms part of GE’s ongoing strategy to divest most of its financial services businesses and focus on industrial businesses, was the biggest in the Czech Republic since 2008. It is also one of the biggest in the EMEA region this year.
GE Capital raised approximately £523m ($750m) from listing a 51% stake in the company; giving MONETA an initial market capitalisation of £1.02bn ($1.46bn).
MONETA is a leading retail and expanding SME bank in the Czech Republic which serves approximately 1,168,000 customers, or 11% of the Czech population.