Shareholders of MTS Bank will hold an extraordinary meeting on March 7, where they will consider the issue of increasing the authorized capital of the company through an additional issue, as well as the prospect of listing on the Moscow Stock Exchange. RBC writes about this with reference to data from the Corporate Information Disclosure Center and a source familiar with the bank’s plans.
In January it became known that MTS Bank had resumed its plans to carry out an initial public offering (IPO). It was then reported that a minority stake in the organization would go on the market. The asset can be valued between 76.5 and 97 billion rubles.
If shareholders vote in favor of an increase in authorized capital during the March meeting, the company will have the technical opportunity to conduct an initial public offering.
As explained by the credit institution, the extraordinary meeting aims to increase the company’s flexibility in decision-making.
According to Banki.ru, MTS Bank ranks 25th among Russian banks in terms of assets (449.8 billion rubles as of January 1). In terms of capital, the organization ranks 27th (69.5 billion rubles).
Last fall, AFK Sistema’s largest shareholder Vladimir Yevtushenkov expressed doubts about MTS Bank’s IPO in 2024.
“I’m afraid not next year,” Yevtushenkov responded to the corresponding question from journalists.
MTS Bank has been under US sanctions since February 2023.
Author:
Natalia Gormaleva
Source: RB
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