VTB aggression pays-off

14 Feb 2011

Deutsche Bank and Bank of America Merrill Lynch completed the $3.27bn sale of VTB Bank stock for the Russian government on Monday, and saw what one banker described as an aggressive approach to pricing pay-off.

The sale of 10% of the company through shares and GDRs was priced before Monday’s open at the equivalent of $6.25 a GDR — around Friday’s closing level — and 9.1468 kopecks a share for proceeds of Rb95.7bn. The GDRs rallied after the announcement, trading around the $6.40-$6.50 ...

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.

Oops, something went wrong

We're sorry but at the moment we can't load this data