Banco Santander SA (SAN) has released an update.
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Banco Santander has announced an accelerated placement of 5.2% of its subsidiary Santander Bank Polska, retaining a majority stake of 62.2%. The sale of the shares is expected to raise approximately PLN 2,463 million (EUR 575 million) and is intended to increase the liquidity of Santander Bank Polska’s stock. The capital from this transaction will be redirected towards organic growth opportunities and potential share buy-backs.
For further insights into SAN stock, check out TipRanks’ Stock Analysis page.
