Mid-sized lender Promsvyazbank has revived plans to list its shares, after pulling out of its October initial public offering, First Deputy President Alexandra Volchenko told journalists.
PSB, majority controlled by billionaire brothers Dmitry and Alexey Ananyev, had planned to sell existing shares in London and Moscow to raise $345-$414 million from global depository receipts sales only.
It decided to postpone the deal, as price indications did not reach "fair value."
"Our key strategy is IPO. … We don't see any windows on the short horizon of one-two-three months, but the example of Nomos shows it is possible to get to the market very quickly," she said, adding the deal could happen next year.
On Tuesday, PSB also said its nine-month net profit reached 5.9 billion rubles ($191 million), up from 2.1 billion rubles compared with the same period last year, on the back of strong lending. PSB's full year-target is set at 8-9 billion rubles.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.