Promsvyazbank shares to be listed on MICEX Stock Exchange
MOSCOW. Sept 13 (Interfax) - Promsvyazbank on Wednesday signed a deal with MICEX Stock Exchange (part of the Moscow Exchanges Group) to have its common shares listed on the stock exchange, the bank said in a press release.
Promsvyazbank on Monday made a deal with LLC Renaissance Broker on supporting (stabilizing) bank share prices. Promsvyazbank told Interfax that Renaissance Broker was appointed as a market maker on the Russian exchange.
The market maker agreement is for trading of the bank's shares in the main market sector and lasts for three months. If neither party wants to terminate the agreement it is automatically extended for another three months upon expiry.
"The bank has said on several occasions that it is looking at different ways to raise capital on international markets. When a final decision is taken regarding any of the options, Promsvyazbank will make the relevant announcement," the bank said.
In early September, Promsvyazbank asked the Federal Financial Markets Service for permission to organize share trading outside Russia.
The bank plans to float the shares on the London Stock Exchange (LSE). In order to float the shares abroad, Deutsche Bank will issue Promsvyazbank GDR.
The bank applied to float 352 billion shares with par value of 1 kopeck each, but no more than 25% of total common shares (including an additional share issue), outside Russia.
Earlier Promsvyazbank said it could carry out an IPO in the second half of 2012 - beginning of 2013.
The Central Bank of Russia on August 3 registered an additional issue of Promsvyazbank common shares totalling 5 billion rubles (registration number 10203251B003D), to be offered through private subscription. The shares will be offered to Promsvyaz Capital B.V. and the European Bank for Reconstruction and Development (EBRD).
Promsvyazbank has charter capital of 11.13 billion rubles. If it places its entire additional issue, charter capital could jump by 45% to 16.13 billion rubles. A quarter of that would be around 4.03 billion rubles, or 403.35 billion shares.
Commerzbank pulled out of Promsvyazbank in June, selling its shares to Alexei and Dmitry Ananyev's Promsvyaz Capital. The deal enabled Promsvyaz Capital B.V. to increase its stake from 73.885% of voting shares to 88.2543%. The EBRD owns 11.7457% of Promsvyazbank.
The bank was Russia's 11th largest by assets, according to the Interfax-100 ranking at the end of H1 2012.
