Russia's Nomos Bank says to hold IPO in London in Q2 '11

Subscribe
US
India
Global
Nomos Bank, one of Russia's top 30 banks, has officially confirmed plans to float shares in an initial public offering (IPO) in the second quarter of 2011 to become the first Russian private bank listed in London, the bank said in a statement on Wednesday.

Nomos Bank, one of Russia's top 30 banks, has officially confirmed plans to float shares in an initial public offering (IPO) in the second quarter of 2011 to become the first Russian private bank listed in London, the bank said in a statement on Wednesday.

The lead managers have valuated the bank at $4 billion, a banking source told RIA Novosti, adding that the road-show will start on April 4 and the pricing after April 15.

"This will be a high-profile deal," the source said. "The bank is valued at about $4 billion and expects to raise over $500 million."

Deutsche Bank, Credit Suisse, VTB Capital and Citi have been appointed as the IPO lead managers.

Earlier on Wednesday, Russia's Federal Financial Markets Service (FFMS) said in a statement it had permitted Nomos Bank to float up to 25% of its stock on foreign stock exchanges or 23.211 million ordinary shares during the IPO.

The media has previously reported that Nomos Bank planned to float about 20% of its shares in IPO to raise $600 million.

The IPO is expected to be held in two stages: the bank's existing shareholders will first sell part of their holdings on the stock exchange and will then buy the bank's new share issue at the price equaling the price of shares during the share offering.

MOSCOW, March 23 (RIA Novosti)

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала