VTB's GDR stake shrinks a quarter in three years
MOSCOW. June 18 (Interfax) - The amount of stock in VTB traded as Global Depositary Receipts (GDRs) has decreased by a quarter over the last three years, the bank said in materials.
VTB had 8.75% of its shares traded as GDRs in April 2010 and 9.6% at the end of that year and 17.03% in April 2012, following an SPO at the beginning of that year, in which the state reduced its stake in the bank from 85.5% to 75.5%.
But the GDR stake has been on the decline since then. It was 16.33% on December 31, 2011, 16.33% in April 2012, 15.61% in May 2013 and, following a share issue that month, 14.5%.
The prospectus for an LPN program worth up to $30 billion by VTB Capital S.A. and VTB Eurasia Limited, dated June 16, says that as of May 5, 2014, VTB's GDR stake was down to 12.69%.
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