VTB Eyes August Closing of RVB Deal, SPO to Raise 300-400 Bln Rubles
VTB Bank may close its deal with RVB in August and expects to raise 300-400 billion rubles in a secondary public offering. The bank also announced upcoming dividend strategy and management reshuffles.
VTB Bank said it could close its deal with RVB in August, with no obstacles for the placement of additional shares under that transaction before September 1. The bank expects to raise 300-400 billion rubles in the upcoming secondary public offering (SPO).
VTB also indicated it will outline its dividend intentions when presenting a new strategy. Separately, the bank is close to selling Rosgosstrakh, with a potential deal closing this year, according to Pyanov. However, Kostin stated that VTB is not negotiating the sale of Rosgosstrakh to RVB.
Kostin also announced management reshuffles at the bank's leadership level.
Source: MarketTwits