UPDATE: Credit Bank of Moscow says sells 3.2 bln shares at 4.5 rbl/share

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MOSCOW, Oct 25 (PRIME) -- The supervisory board of Russia’s Credit Bank of Moscow has set the placement price of a secondary public offering (SPO) at 4.5 rubles per share, and the bank is to sell 3.2 billion shares publicly at the SPO, as seen by PRIME in materials of the bank on Wednesday.

The bank held a road show and collected bids for its SPO from October 19 through Tuesday. Otkritie Capital, Societe Generale, Aton and brokerage company Region are the organizers of the placement.

Rossium of Russian businessman Roman Avdeyev, an owner of the 56.8% stake in Credit Bank of Moscow, plans to buy 1.5 billion shares during the SPO. “The total amount of shares subscribed under an offer…stands at 1.7 billion. The combined amount of the offer…stands at 7.65 billion rubles. The expected volume of subscription by Rossium amounts to 1.5 billion shares,” the bank said in a statement.

Credit Bank of Moscow will announce the final amount of the offer and raised funds no later than on November 7, the bank said.

A source said earlier this month that Credit Bank of Moscow planned to raise U.S. $258 million in the SPO.

(57.5852 rubles – U.S. $1)

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