The proportion of MTS Bank shares in free float after the proposed initial public offering may reach 15%. This was stated by the director of the company, Ilya Filatov, confirming that the organization continues preparations for the initial public offering of shares on the Moscow Stock Exchange.
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In mid-March, the board of directors of MTS Bank approved an additional issuance in the amount of 3.6 billion. At the same time, as sources said, the size of the additional issue does not indicate the volume of the placement, it is a technical possibility.
The size of MTS bank’s free float will be around 15%, Filatov said, adding that it could be increased.
“In 2021 we will carry out this preparatory work. [по возможному IPO] began. In fact, now we continue with this preparation. And if the market allows this procedure to be done, we will discuss this possibility and then finally make a decision. It is a combination of factors that influence the decision, there can be many: the situation in the financial markets, movements in interest rates and much more,” the chairman of the board of directors told RBC, noting that the company “does not He’s in a hurry.”
Filatov also announced a possible relationship between the bank’s dividend policy and its profitability.
“If dividends are not paid out of profits, but out of capital, then this is strange,” he explained.
The bank’s ROE has been around 20% in the last seven years.
At the beginning of the year, Reuters wrote that MTS Bank wants to raise up to 15 billion rubles during its initial public offering, scheduled for this spring. MTS Bank has been under US blocking sanctions since 2023.
Author:
Natalia Gormaleva
Source: RB
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