VTB divests stake in SPB Exchange

MOSCOW. May 24 (Interfax) - Russian state bank VTB is no longer a shareholder of the SPB Exchange as its stake has decreased from 9.25% to zero, the lender disclosed.

"VTB has exited the capital of SPB Exchange. The details of the deal are not being disclosed due to confidentiality conditions," VTB's press service told Interfax.

SPB Exchange is the leading organizer of trading of the securities of international companies on the Russian financial market. The SPB Exchange Group includes subsidiaries Best Efforts Bank , which acts as the settlement depository, and MFB Clearing Center , which provides clearing services.

The exchange raised $175 million with an initial public offering last November in which it placed 18.76 million new shares. In addition to VTB, shares in the exchange were held by Sovcombank, Aton, BCS, NP RTS and SPB Exchange management and board members.