The board of directors of MTS Bank approved an additional issue of shares, the organization’s press service reports. Therefore, the authorized capital may increase by 3.6 billion rubles and amount to 18.6 billion rubles. Previously, the media wrote that MTS Bank is preparing for an initial public offering on the Moscow Stock Exchange this spring.
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The organization’s message talks about increasing the authorized capital by placing 7.2 million ordinary shares at 500 rubles each.
The maximum volume of the additional issue corresponds to 19.3% of the increased authorized capital or 24% of the current one. The offer price will be determined by the board based on the market value. However, it will not be less than the nominal value of the shares.
As a source familiar with the bank’s plans told Interfax, the organization is preparing for an initial public offering (IPO). Another interlocutor of the publication clarified that the size of the additional number does not indicate the placement volume, it is a technical possibility.
MTS Bank shareholders were scheduled to hold an extraordinary meeting on March 7 to discuss the prospects of an initial placement on the Moscow Stock Exchange and an additional issue.
However, as noted in the press service, its size does not exceed 25% of the authorized capital, so a meeting of shareholders is not necessary.
Last month, Reuters wrote that MTS Bank wants to raise up to 15 billion rubles during its initial public offering, scheduled for this spring.
Author:
Natalia Gormaleva
Source: RB
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