Bank St Petersburg seen raising $136 mln in SPO
MOSCOW Aug 21 (Reuters) - Bank St Petersburg, one of a handful of listed non-state Russian banks, is to price shares in an upcoming secondary public offering at 41 roubles ($1.24) apiece, according to a regulatory filing on Wednesday.
The share placing, to begin on Thursday, would allow it to raise around $136 million, as it has previously disclosed it would offer 110 million shares.
A banking source and a source on the financial market previously told Reuters the size of the offering would be $100-120 million, of which the bank's main owner and chief executive, Alexander Savelyev, plans to buy $50 million worth of shares.
Savelyev said in May the lender planned to raise at least $150 million through a share sale in September to bolster its capital adequacy ratio.
In 2007 it became the first private Russian bank to hold an initial public offering, in which it raised $274 million. Two years later, it raised another $200 million through the placement of preferred shares.
Savelyev owns a 28 percent stake in Bank St Petersburg and the European Bank for Reconstruction and Development (EBRD) holds 6.2 percent. ($1 = 32.9407 Russian roubles) (Reporting by Oksana Kobzeva,; writing by Megan Davies, editing by Alessandra Prentice and Stephen Nisbet)
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