3 Jun 2011 12:39

Gref comments send Sberbank preferred shares above 70 rubles, high since mid-April

MOSCOW. June 3 (Interfax) - Preferred shares in Sberbank Russia jumped more than 8% on Friday following comments by President and CEO German Gref that the bank is considering ways to reduce the share of preferred stock in equity, including converting them all into ordinary shares.

Sberbank preferred shares were up 8.1% to 70.8 rubles on MICEX as of 12:16 p.m. on Friday, their highest level since mid-April. Ordinary shares were also higher, up 0.3% to 97.24 rubles.

RTS$#&: SBER