March 15, 2013 / 11:37 AM / 5 years ago

Russia's VTB to place shares on Moscow Exchange in 2013

MOSCOW, March 15 (Reuters) - Russia’s second-largest bank by assets VTB plans to place shares on Moscow Exchange this year, the bank’s chief executive said on Friday, firming up a timeline for the planned sale of new stock to bolster its capital strength.

“Bank VTB ... plans a wide-scale placement worth tens of billions of roubles on the Moscow Exchange,” Andrei Kostin told a banking forum.

“I think that our example will help other companies from Russia and (Commonwealth of Independent States) place here (in Moscow).”

The long-planned offering of new shares by the state-controlled bank has struggled to attract interest so far, and talks with sovereign wealth funds have yet to deliver any firm commitments to back the deal.

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