The Czech financial group SAB is looking to go public on the Prague Bourse in order to raise funds it wants to use to buy smaller German and Swiss banks. SAB Finance announced on Monday that its investment prospectus had been approved by the Czech National Bank, an important step in the run-up to any IPO. The daily Hospodarske noviny writes that SAB would be the third largest share to be placed on the Prague Bourse following the software giant Avast and Philip Morris. SAB is aiming to become publicly tradable in January in a transaction that it’s estimated will value the company at CZK 2.7 billion. SAB specializes in brokering foreign currency trades for its corporate clients and with the exception of banks is one of the biggest players on it that field. It already owns the Malta-registered FCM Bank and has a 10 percent share in a new Czech bank called Trinity.
