Otkritie FC Bank starts collecting bids for shares in Rosgosstrakh

MOSCOW, Aug 3 (PRIME) -- Russia’s Otkritie Financial Corporation (FC) Bank has started collecting bids from investors that are willing to buy shares in insurer Rosgosstrakh, the bank said in a statement on Tuesday.

“Otkritie FC bank announces the start of reception of messages of interested parties about their intent to buy shares of insurance company Rosgosstrakh in the framework of studying interest of potential strategic investors,” the statement read.

Following the analysis of bids, the bank will make a decision on further steps regarding sales of the insurance company.

Earlier in the day, the central bank started collecting bids from investors that want to participate in a sale of shares in Otkritie FC Bank. The regulator mulls different options for the deal, but the main option is a sale of at least 50% plus one share in the bank through an initial public offering (IPO) until the end of the year.

The central bank also said that it might spin off the insurance business or the pension business or both businesses of the bank prior to the IPO if strategic investors express interest in them.

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