VTB to swap interest in MICEX Stock Exchange for shares in CJSC MICEX
MOSCOW. May 16 (Interfax) - VTB Bank's supervisory board, at a meeting on Friday, approved a swap of its current common shares in CJSC MICEX Stock Exchange for shares in CJSC Moscow Interbank Currency Exchange (CJSC MICEX), the bank said in a statement.
This concerns the swap of 7,526 common shares in CJSC MICEX Stock Exchange, at a face value of 1,000 rubles each, for 2,790 shares in CJSC MICEX at a face value of 10,000 rubles each.
The value of the share packet in CJSC MICEX Stock Exchange comes to 1,971,812,000 while the value of the packet in CJSC MICEX comes to 1,971,677,906 rubles. VTB Bank will pay the difference (131,100 rubles) for shares swapped for CJSC MICEX stock, the statement said.
CSJC MICEX is carrying out an additional share issue in order to transfer MICEX Stock Exchange to its 100% subsidiary company.
The exchange is placing 37,083 common shares at a face value of 10,000 rubles each.
The price of the share placement for CJSC MICEX was set at 706,700 rubles per share. The value per share for CJSC MICEX Stock Exchange is 262,000 rubles.
As of the start of May, VTB held 6.95% in CJSC MICEX's charter capital and 7.53% in CJSC MICEX Stock Exchange.
VTB's stake in CJSC MICEX after this transaction will come to 7.1%
Through the additional share issue, shares in CJSC MICEX will be bought by shareholders in MICEX Stock Exchange such as UniCredit Bank, Vnesheconombank, VTB, Sberbank (SBER) and Gazprombank.
The Central Bank of Russia's Deputy Chairman Sergei Shvetsov earlier said that its stake in CJSC MICEX's charter capital will decrease from 36% to 28% as a result of this transaction.