MTS Bank is preparing to hold an initial public offering in 2024. A minority stake in the bank will come to the market if a “window of opportunity” appears. The value of the asset may range from 76.5 billion rubles to 97 billion rubles, RBC has learned.
A consultant has not yet been selected for the transaction. The placement format – cash inflow or outflow (additional issuance of shares with dilution of the current shareholder’s stake or partial sale of a stake in the MTS group) – is still unclear. The market can be offered between 10 and 15% of the shares, the publication’s interlocutors pointed out.
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.
MTS Bank is a subsidiary of MTS, which is 42.09% owned by AFK Sistema. In February 2023, the credit institution was added to the US sanctions list.
Author:
Karina Pardaeva
Source: RB
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