The building is the headquarters of Sovcombank in Moscow
Plans IPO of Sovcombank told RBC co-owner and Deputy Board Chairman of the Bank Sergey khotimsky. Sovcombank intends to float 25% of its shares on the Moscow stock exchange, he said. “For us IPO is a very important goal. This is an element of hygiene that the correct Bank has to be public,” said Khotimsk.
The deal could take place before the end of the year, told RBC a source close to the leadership of Sovcombank, and confirmed by another source close to the Bank. Hotimsky said that the IPO will occur “in the near future: he now can not give an exact date. “You need to wait a bit. Nobody knows what chain of events starts Brexit,” explains Khotimsk.
Britain messed up cards
June 24, results were announced of a referendum on withdrawal of Britain from the EU (Brexit). He ended with the victory of eurosceptics: Brexit voted 51.9% of voters. Prime Minister David Cameron after the vote count and announced the decision to resign. The victory of the supporters of Brexit triggered a collapse in world markets.
EU leaders in a joint statement urged the UK authorities as soon as possible to start the implementation of the decision on withdrawal from the EU. The victory of the supporters of a British exit from the EU means the beginning of a “period of uncertainty”, which may last several years, fear polled by Reuters representatives of major European businesses.
According to Khotimsk, thoughts about the IPO the shareholders of the Bank was for a long time. Sovcombank originally planned to hold it after the completion of the integration with GE Money Bank, presumably in 2015. Such plans Khotimsk shared with RBC in 2013, before closing the deal on purchase of 100% shares of GE Money Bank, a Corporation of General Electric (according to the calculations of Kommersant, the amount of the transaction amounted to 5.5–6 billion rubles). “However, to place the shares until 2014, i.e. before the crisis, they do not have time,” explained Khotimsk.
The crisis however did not put another large Bank IPO a year ago on the Moscow stock exchange is the Moscow credit Bank (ICB). During IPO the Bank was estimated at 0.93 capital is higher than then were traded at the exchange Sberbank (0.74 capital). ICD sold 18,8% of the share capital, due to what attracted RUB 13.3 billion. capitalization of the Bank after the IPO amounted to 70.2 billion roubles and 24 Jun 2016 ICD cost of 93.6 billion.