Sovcombank will hold an initial public offering of shares from December 1 to 14. The price range for titles will be from 10.5 to 11.5 rubles. This was reported to RB.RU by the bank’s press service.

Sovcombank announced IPO

This corresponds to Sovcombank’s market capitalization of 200 billion to 219 billion rubles and a multiplier of 2.2-2.4x P/E for 2023, excluding the expected fundraising for the IPO.

The bank has already received offers to participate in the placement “from several of the largest Russian institutional investors” for an amount of 50% of the size of the expected offer.

As part of the placement, the bank aims to raise 10 billion rubles. This is the first bank IPO in the country since 2015. It will be carried out under the cash-in scheme and does not involve significant dilution of shares. All funds raised will be used for further development of the business.

10 billion rubles is only 4% of the capital, but the strategy seems realistic given the current market conditions, experts previously suggested.


Karina Pardaeva

Source: RB

Previous articleApple updates iMovie and Final Cut Pro with significant improvements
Next articleThe first part of The Crown season failed on several important points.
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.


Please enter your comment!
Please enter your name here