MTS Bank officially announced its plans to hold an initial public offering on the Moscow Stock Exchange. Investors will be offered shares of the bank issued as part of the additional issue. The company informed RB.RU about this.
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The company will use the funds raised during the IPO to implement its growth strategy and further scale its retail business.
Within the framework of the IPO, the telecommunications operator MTS, the bank’s majority shareholder, does not plan to sell its shares in the credit institution. After the placement, it will retain a majority stake in the bank’s capital.
MTS Bank’s readiness for an IPO became known in January 2024. The value of the asset may range from 76.5 billion rubles to 97 billion rubles.
In January 2022, the media, citing representatives of the credit institution, wrote that the bank’s management was 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
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.
