CBR sees strong investor interest in share offering
LONDON. Dec 9 (Interfax) - Credit Bank of Moscow (CBM) sees strong interest among investors, including nongovernmental pension funds, in its planned share offering, the bank's CEO, Vladimir Chubar told reporters.
"Everyone's interested, there is active interest," Chubar said when asked if nongovernmental pension funds are showing interest in the share offering.
The bank plans to place its shares in a public offering.
"The standard practice on the market is that no one sells, you have to give a discount in order to interest investors. The discount will be assessed based on the current market situation," Chubar said.
"We can do everything very quickly as soon as we make a decision," he said when asked about the timing of the offering. The bank is now in the process of selecting the coordinators of the offering.
The Central Bank of Russia registered an additional issue of CBM common shares totalling 4.5 billion rubles in November.