Banco Santander (SAN.MC) is set to reduce its holdings in its Polish subsidiary, Santander Bank Polska (SPL1.WA), through an accelerated bookbuild offering. According to a bookrunner on Monday, the sale will involve approximately 3.5% of Santander Polska’s shares, targeting a total of around $480 million. This transaction will decrease Santander’s stake in its Polish unit to roughly 9.7%. Santander is a global financial services company providing a wide range of products and services to individuals, businesses, and institutions. Santander Bank Polska offers banking and financial solutions to customers in Poland.
The partial divestment follows a previous agreement in May to sell a 49% stake in Santander’s Polish bank for approximately 6.8 billion euros. The bookrunner indicated that Santander plans to sell around 3.6 million shares in Santander Polska, with a price range of 481 to 486 zlotys per share.
This price range represents a discount of between 5% and 6% compared to Santander Polska’s closing price on Monday, which was 511.6 zlotys per share. While the bookrunner has released details of the planned sale, Santander has declined to comment on the pricing specifics.
The accelerated bookbuild is expected to proceed swiftly, pending market conditions and investor interest. The move signals Santander’s ongoing strategy to optimise its portfolio and capital allocation across its international operations.
