Long-awaited Sberbank stock-sale launched
17.09.12 13:54 By News Dept.
Photo: RIA Novosti
Russia's top majority state-owned bank, The Central Bank
CBR's public stake in Sberbank will fall to 50% plus one share.
"The price range for has been established at between 91 rubles per share and the market price at the time of closing of the books … The MICEX offering is expected to comprise up to 10% of the aggregate size of offerings, subject to an increase of up to 15% at the discretion of the CBR depending upon demand," Sberbank said in an online statement.
MICEX reports that the Bank of Russia will initiate sale of ordinary shares of Sberbank from 17 to 19 September.
The rest of the package will be sold in the form of global receipts.
On Friday, at the close of trading on the MICEX, a Sberbank stock was worth 97.05 rubles. Share price in the implementation of the package will be determined by the Bank of Russia on Tuesday, September 18, or the morning of Wednesday, September 19, reports the agency "Prime", citing a source familiar with the situation.
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