The founder and largest shareholder of AFK Sistema, Vladimir Yevtushenkov, expressed doubts about a possible IPO of MTS Bank in 2024.
“I’m afraid not next year,” Yevtushenkov said on the sidelines of REW 2023, quoted by Interfax.
MTS Bank is a subsidiary of MTS, which is 42.09% owned by Sistema. In February 2023, the credit institution was added to the US sanctions list.
A few months later, the MTS board of directors discussed the possibility of reducing the stake in the subsidiary bank, but the decision was not made public.
In mid-2021, Yevtushenkov, in a conversation with RBC, said that to conduct an IPO, the valuation of MTS Bank should be at least $1 billion. In January 2022, the media, citing representatives of the credit institution, wrote that the bank’s management is actively working on scenarios for the initial public offering of shares.
Author:
Natalia Gormaleva
Source: RB
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