VTB moves for 10% stake in Home Credit ahead of IPO
An IPO later this year of Home Credit, the central and eastern European consumer lender, was looking increasingly likely this week as Russia’s VTB Bank moved to buy a 10% stake in the business from its 100% owner, Czech investment fund PPF.
That will likely put the Russian bank in the joint bookrunner group for the IPO which is understood to comprise Bank of America Merrill Lynch, Citigroup, Deutsche Bank and JP Morgan.
The attraction of the pre-IPO or cornerstone investment to Home Credit would be the partnership with Russias second
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