Tinkoff takes advantage of Russia thaw to raise capital

By Sam Kerr
04 Jun 2019

TCS Group Holding, the Russian financial services company owned by Oleg Tinkoff is to raise $300m in new GDRs to pursue profitable growth opportunities as its entrepreneurial owner takes advantage of continuing warm sentiment towards Russian equities.

Morgan Stanley, UBS and Renaissance Capital are running the deal.

The offering is non-preemptive, for the purposes of simplicity, but TCS will use ‘reasonable endeavours’ to give existing and institutional shareholders preference in allocation.  

Tinkoff has sold GDRs in London before; his last sale ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.