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 ...

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