Thursday, December 15, 2005
Rosbank to IPO in summer next year; Deutsche Bank, HSBC and CSFB responsible for offer - report
Story
Rosbank, the Russian bank belonging to the investment company Interros, is planning an IPO in summer next year, reported Vedomosti. According to a source in the bank, Deutsche Bank, HSBC and CSFB have been appointed to run the sale. Involved parties did not comment on the news.
The above source did not disclose the exact volume of the stake that will be offered, but said that it will be below 49%, Vedomosti continued. Initially, a small stake will be offered in Russia and the main listing will be in London.
A Rosbank source said that for an IPO the bank plans additional share issue. It is also possible that Interros, controlled by tycoons Vladimir Potanin and Mikhail Prokhorov, will sell a part of its stake. One source close to Interros said that investors could be offered up to a 25% stake, for which the shareholders hope to gain USD 300m. Interfax-CEA general director, Mikhail Matovnikov, values the entire Rosbank at USD 1.2bn to USD 1.5bn, Vedomosti reported.
Last November, the 40.5% stake in Rosbank was transferred to the Cyprian firm KM Technologies (Overseas). Vedomosti, which has not referred to any sources, stated that this firm has been used before by Interros to sell the company assets.
SourceVedomosti"
Rosbank, the Russian bank belonging to the investment company Interros, is planning an IPO in summer next year, reported Vedomosti. According to a source in the bank, Deutsche Bank, HSBC and CSFB have been appointed to run the sale. Involved parties did not comment on the news.
The above source did not disclose the exact volume of the stake that will be offered, but said that it will be below 49%, Vedomosti continued. Initially, a small stake will be offered in Russia and the main listing will be in London.
A Rosbank source said that for an IPO the bank plans additional share issue. It is also possible that Interros, controlled by tycoons Vladimir Potanin and Mikhail Prokhorov, will sell a part of its stake. One source close to Interros said that investors could be offered up to a 25% stake, for which the shareholders hope to gain USD 300m. Interfax-CEA general director, Mikhail Matovnikov, values the entire Rosbank at USD 1.2bn to USD 1.5bn, Vedomosti reported.
Last November, the 40.5% stake in Rosbank was transferred to the Cyprian firm KM Technologies (Overseas). Vedomosti, which has not referred to any sources, stated that this firm has been used before by Interros to sell the company assets.
SourceVedomosti"
