Sberbank believes it important to develop financial market via IPOs, but not planning to bring own subsidiaries to market thus far

MOSCOW. Nov 2 (Interfax) - Sberbank is not planning to conduct an IPO of its subsidiaries, said Taras Skvortsov, Vice President and Director of the Finance Department at Sberbank.

The process of public offerings of shares of various companies in the market has now intensified, he said. "We actually, of course, see this boom. And we, as an important participant of the financial market and often as a co-organizer of these issues, we support it. For us, of course, it is very important that the financial market develops and more issuers from different industries are present on it and have the opportunity to raise capital and funds for development not only in the form of loans or their net profit, but also in the framework of share issues - entry into the market. This, of course, improves the condition of the market as a whole," Skvortsov said on a conference call on Thursday.

"As for our plans specifically, we have no such plans at the moment," he said when asked if Sberbank had any plans to conduct IPOs for its subsidiaries in 2024-2025.

"We have Sberbank shares on the market, and we believe that this is enough for us to be fairly valued. There is no need to conduct IPOs of any individual companies for this purpose," the executive said.