Reuters logo
Russia's VTB to issue shares in 2013 if markets allow-CFO
December 20, 2012 / 9:27 AM / in 5 years

Russia's VTB to issue shares in 2013 if markets allow-CFO

MOSCOW, Dec 20 (Reuters) - VTB, Russia’s No.2 lender, is considering an additional share issue next year if market conditions are favourable, Chief Financial Officer Herbert Moos said on Thursday.

He added that the government, which controls a 75.5 percent stake in VTB, would not take part in the share offering, whose proceeds would go towards bolstering the bank’s capital and enable it to expand lending.

The state sold a 10 percent stake in VTB last year for $3.3 billion and plans to cut its stake by another 10 percent. VTB CEO Andrei Kostin has said that the offering could raise at least $2 billion.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below