Alior Bank

Here’s a piece of good news for European banking as rare as a bloom in Death Valley – a bank IPO.

Poland’s Alior Bank, launched just weeks after the 2008 collapse of Lehman Brothers, plans to float on the Warsaw Stock Exchange in what would be the first European banking IPO of 2012.

Admittedly, the main shareholder is under pressure to sell reduce debts incurred investing in banking elsewhere in Europe (Italy). But still, the fact that Alior’s backers propose to do a European bank IPO in the next few weeks is a welcome development in a hard-pressed sector. Read more