Capitalization of Russia’s TCS Group exceeds $20 bln

MOSCOW, Aug 17 (PRIME) -- The market capitalization of TCS Group, comprising Russia’s Tinkoff Bank and Tinkoff Insurance, has exceeded U.S. $20 as depositary receipts of the company hit a new price record, as seen by PRIME on Tuesday in data of the Moscow Exchange.

As of 6.28 p.m. Moscow time, receipts of TCS Group gained 2.6% to 7,400 rubles per security, setting a new historic record.

Taking into account the amount of the company’s securities in circulation of 199.31 million units and the maximum Tuesday price of $100.75 per security, the company’s market capitalization exceeded $20 billion. For comparison, capitalization of Sberbank, the leader of the Russian banking market, stands at around $103 billion.

(73.3920 rubles – U.S. $1)

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