[contentcards url=”https://www.reuters.com/markets/deals/russias-vtb-bank-sets-spo-price-could-raise-up-24-bln-2023-06-02/”]
MOSCOW, June 2 (Reuters) – Russian state-owned lender VTB (VTBR.MM) on Friday set the price for its secondary public offering (SPO) at 0.018225 roubles per share, implying a maximum capital raising of 169.5 billion roubles ($2.1 billion).
A total of 9.3 trillion shares with a par value of 0.01 roubles each will be placed by public subscription, VTB said.
The bank expects to bounce back to profit this year after a huge net loss in 2022 as Western sanctions hit Russia’s financial sector.
CEO Andrei Kostin has presented the SPO, as well as other additional share issues this year, as a means to help the bank resolve capital problems.
Read Full Article Here…(reuters.com)
Home | Caravan to Midnight (zutalk.com)
Live Stream + Chat (zutalk.com)
