Otkritie Financial Corporation raises 21.4 bln rubles in Moscow Exchange SPO
MOSCOW. Nov 17 (Interfax) - Otkritie Financial Corporation has raised 21.4 billion rubles as part of an open-subscription secondary public offering (SPO) on the Moscow Exchange , the bank said in a statement.
A total of 22.8 million shares were placed at 935 rubles apiece.
The organizers of the deal were Gazprombank and the investment bank Otkritie Capital
"The market conditions have changed significantly since we registered the follow-on offering. We have nevertheless succeeded in placing the shares: the level of demand shown by investors exceeded the expected values. As a result of the SPO, we have not only raised the capital required for further business growth but also expanded our shareholding structure: alongside the strategic investor who will hold approximately 7.4% in the Bank's capital, a number of institutional investors that have not previously held any of the Bank's shares as well as private investors have taken part in the offering," Otkritie FC Bank President Dmitry Romaev is quoted in the statement as saying
Sources of Russian newspaper Kommersant have said Deputy CEO Sergei Koshelenko from Vnesheconombank's investment company, VEB Capital, would be the strategic investor who will buy 30% in the additional issue.