UPDATE: Russia’s Promsvyazcapital to mull SPO of Vozrozhdenie Bk’s shares H2

(Adds that Promsvyazcapital plans SPO of Vozrozhdenie Bank’s shares, in headline, lede, provides other details in last paragraph)

MOSCOW, Apr 28 (PRIME) -- Promsvyazcapital B.V., owned by Russian businessmen Dmitry and Alexei Ananyev, will consider selling Vozrozhdenie Bank’s shares through a Secondary Public Offering (SPO) in June–August, a representative of the company told PRIME on Thursday.

“Promsvyazcapital wants to keep shares of Vozrozhdenie Bank on the highest quotation list, and in order to do it the share of free float must be increased by about 15%,” the person said.

“We are considering various opportunities to meet this requirement, one of which is selling a stake in Promsvyazcapital via a SPO. The final decision will be made in the summer of 2016.”

In November 2015, Promsvyazcapital, a majority shareholder of Promsvyazbank, purchased 70.87% of Vozrozhdenie Bank’s common shares. Ex-senator Viktor Pugachyov owns a 10% in Vozrozhdenie Bank and the remaining shares are in free float.

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