Exec: Russia’s Vozrozhdenie Bank unlikely to make SPO

MOSCOW, Aug 24 (PRIME) -- Russia’s Vozrozhdenie Bank will most likely drop plans to make a secondary public offering (SPO) in the near future, Deputy CEO Andrei Shalimov told reporters Wednesday.

“We should not expect that shares of Vozrozhdenie Bank will be included in the index (of the Moscow Exchange). Free float is really small, revenues are not big… That’s why this short-term necessity, just a will to make SPO, has certainly decreased a lot,” he said.

“In addition, from the point of view of shareholders it is not that interesting to enter the market, when the bank is trading below capital. Pluses and minuses of this situation say we should not hurry,” Shalimov said.

Shalimov said in May Vozrozhdenie Bank could make SPO in the second half of 2016.

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