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ABN Amro IPO this year, says Dutch PM

The Dutch government will seek stock market listing for ABN Amro this year, according to prime minister Mark Rutte. He said this year is still really very long and there is time for ABN Amro’s IPO to take place once various questions raised by parliament have been addressed. ABN Amro was nationalized in 2008 in a bailout that eventually cost taxpayers 24 billion euros ($26 billion). After years of cost-cutting and refocusing operations on the Dutch market, ABN Amro’s year-end 2014 book value was 14.9 billion euros. The IPO decision was earlier postponed as lawmakers lodged a flurry of questions over a proposal by the bank’s supervisory board to increase pay for most of the bank’s top managers by 100,000 euros each. They later said they would not accept the raise. Lawmakers subsequently lodged further questions about the strength of the bank’s anti-corruption measures.

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