MTS Bank announced the price range of the IPO: from 2,350 rubles to 2,500 rubles per share. Collection of applications will end on April 25, 2024 at 15:00 Moscow time. The company itself announced it.
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The placement will consist exclusively of additional issuance shares (cash-in). As part of the IPO, the bank’s majority shareholder, MTS, does not plan to sell its shares, retaining a majority stake in the bank’s capital after the IPO.
According to RKB, as a result of the initial placement, MTS Bank plans to raise 10-12 billion rubles. The value of the asset can range from 76.5 billion rubles to 97 billion rubles.
In mid-2021, AFK Sistema co-owner Vladimir Yevtushenkov stated in a conversation that to conduct an IPO, MTS Bank’s valuation should be at least $1 billion. In January 2022, the media cited representatives of. The credit institution wrote that the bank’s management is actively working on initial public offering scenarios.
In April 2024, MTS Bank confirmed its plans to go public. The company will use the funds raised during the IPO to implement its growth strategy and further scale its retail business.
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.
