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Business

Postbank Plans July IPO

Germany's Deutsche Postbank said Wednesday it would make its initial public offering earlier than originally planned. Executives at the company, a banking subsidiary of the country's post monopoly, said Postbank would go public in July. "If nothing unexpected happens, then Postbank shares will be seen on the quotations list of German stock exchanges already before the summer break," which starts around mid-July, chief executive officer Wulf von Schimmelmann said in a statement Wednesday. Postbank is the largest retail bank in Germany, with over 10 million depositors, and the planned stock sale is generating rare interest in the German IPO market.